Steven Madden Ltd

SHOO remains in a Stage 2 corrective advance within a larger uptrend. Medium-term bias stays bullish supported by rising 50 DMA and 200 DMA, despite an active Bearish Pivot Point signaling interim structural repair. Short-term conditions—price below declining 9/21/50 EMAs and neutral OB/OS—advise patience and deferment. We will wait for a shallow pullback into the 200 DMA or confluence zone before initiating long exposure.

• ↑Q1 revenue $653.1M (+18% YoY); DTC revenue $206M (+83.8%).
• ↑Kurt Geiger acquisition on track to add mid-teen revenue growth.
• ↓Private label revenue expected to decline ~20% due to tariffs.