Natalie Koltermann's questions to Steven Madden Ltd (SHOO) leadership • Q2 2025
Question
Natalie Koltermann of UBS Group, on for Jay Sole, asked about the sufficiency of inventory from non-China sources to last through Q3 before new tariffs take effect, and when higher rates from countries like Cambodia and Vietnam might flow through the P&L.
Answer
Chairman and CEO Edward Rosenfeld responded that most inventory for Q3 delivery would not be impacted by the newest tariffs. However, he emphasized that the company's fast inventory turns, especially in the wholesale business which turns around 10 times a year, mean that tariff impacts are felt relatively quickly as goods are brought in and shipped right out.