Steven Madden Ltd. warned investors that the company is “cautious” on the near-term outlook due to tariffs.
“We face meaningful headwinds in 2025, most notably the impact of new tariffs on goods imported into the United States,” the company said Wednesday in a statement when it reported quarterly earnings.
The shoe retailer joined other consumer companies in raising concerns about the impact of President Donald Trump’s tariffs. On Tuesday, Kontoor Brands Inc. said that US shoppers were “confused” and feeling “under attack” amid all the uncertainty.
Despite the cautious approach, Steve Madden forecast revenue to increase as much as 19% this year. Meanwhile, the company’s profit in the most recent quarter beat estimates.
The retailer’s stock was little changed in trading before US markets opened. The shares had fallen about 11% this year through Tuesday’s close, trailing a roughly 1% advance by the Russel 1000 Index.
The company said in November, after Donald Trump was elected president, that it was accelerating plans to shift production from China because it anticipated higher tariffs. The White House enacted additional 10% levies on Chinese imports earlier this month.
Clergerie is struggling to get out of this new rut. After first filing for receivership in 2023, and subsequently being acquired by a US group, the footwear brand based in Romans-sur-Isère, France, has again been placed in receivership. The proceedings formally opened late last year at the trade court in Romans-sur-Isère, where Clergerie operates a production site, and FashionNetwork.com has learnt that the court-appointed receivers are looking for a buyer.
Clergerie’s leather boots are priced between €525 and €745 – Clergerie
Nearly two years ago, Clergerie was bought by US group Titan Footwear following commercial court proceedings in Paris, having filed for receivership in March 2023. However, Joe Ouaknine, businessman and owner of Titan Footwear, hasn’t been able to revive Clergerie. Was it for lack of investment, or because the market is too disrupted? Last November, the brand’s French factory, which used to produce nearly 500 pairs of shoes a week, was shut down, and its workers were put on short-term unemployment, as local paper Ici Drome Ardèche reported. According to some workers, production later resumed but only in “fits and starts,” and with “constant raw materials supply issues.”
52 jobs at two companies at risk
The public notice recently published by the court-appointed receivers to find potential new owners relates to two companies. The first is responsible for the manufacturing activity at the factory in Romans, a 3,800-square-metre facility that currently employs 32 workers. In the 14 months ending on August 31, 2024, the company generated a revenue of €4.5 million.
The second company is looking after the products’ commercialisation via the retail and wholesale channels, and online. It includes a factory outlet in Romans, a directly owned store in Paris, and several department store corners (at Galeries Lafayette, Printemps, and Le Bon Marché), and generated a revenue of €4.9 million over the same period. The second company has 20 employees.
Clergerie’s Parisian store is located at 5 rue du Cherche-Midi in the 6th arrondissement – Google Street View
Interested parties have until March 18 to put forward their bids. Clergerie also operates a few stores outside France, in Madrid, London and the USA, but they don’t seem to be included in this potential sale.
The brand was founded in 1981 by Robert Clergerie, and is one of the last bastions of French footwear production. It benefits from a long-standing industrial heritage, since Romans-sur-Isère has been a shoe manufacturing hub since the end of the 19th century. A few other iconic footwear brands hail from the same area, like Stéphane Kélian – owned by the Royer group and about to be relaunched – and Charles Jourdan, also owned by Royer but currently dormant. Charles Jourdan’s old factory in Romans, disused since 2010, used to employ up to 3,000 people in its heyday, but it is about to be demolished to make room for a secondary school, as reported by Le Dauphiné Libéré.
Perhaps a leading luxury name, or a footwear manufacturer, could be interested in buying Clergerie to stop its factory suffering the same fate.
Fashion e-tail giant ASOS on Wednesday unveiled a radical plan to restructure its business with some big leadership changes including an MD for the UK and US and another covering Europe and the rest of the world. Through all the numerous changes, there’s a clear theme of bringing commercial and customer functions together.
ASOS
CEO José Antonio Ramos Calamonte’s aim is to create a more joined-up business that has the customer’s needs at its heart. Decision-making should be accelerated and continuous innovation and improvement will be a core focus.
The 25-year-old company also said it has “significantly” reduced its stock levels, as well as improving its product and refinancing debt. That stock levels issue is a key point given how much surplus stock the company held in recent years.
The retailer, which currently has 20 million active customers in more than 200 markets, said the changes are expected to take effect from April.
So, what are the key leadership moves that have been announced? Importantly, the company has expanded Vanessa Spence’s role from executive vice-president of creative. With the firm since 2007, she steps up from ‘only’ leading the design and creative direction for all its owned brands to become EVP brand and creative. That’s a crucial move as it sees its brand and creative strategy coming together.
There there’s the aforementioned creation of MDs for the firm’s key regions. Current VP North America Sean Trend is becoming MD for the UK and US, which is a new role. And its SVP operations Jag Weatherley becomes MD for Europe and the rest-of-world region.
Meanwhile, Michelle Wilson, previously chief of staff and strategy, is now MD of Topshop and Topman and leading a dedicated cross-functional team to ensure the brands prosper as standalone since they were sold last autumn. The brands are now majority owned by Heartland, the holding company of major ASOS shareholder and Bestseller owner Anders Holch Povlsen. But ASOS retains a minority stake and continues to sell the high-profile labels.
ASOS
Wilson will also be in charge of the ASOS global wholesale division, that takes in its American partnership with Nordstrom in the US, its Indian one with Reliance Retail, and its European one with Bestseller.
Meanwhile, it was also announced that highly experienced Zalando’s software engineering VP Przemek Czarnecki joined ASOS earlier in February as its EVP technology. That role had been held by interim EVP Hugh Williams.
And that’s not the end of the changes. To “better align strategic decision-making and communication”, EVP people experience Ras Vaghjiani’s role is also expanding to become EVP people, communications and strategy. And supporting Vaghjiani will be Rishi Sharma, promoted from interim general counsel and company secretary to SVP corporate affairs and strategy.
The business is also creating product development teams (PDTs) with a focus on strategic priorities such as loyalty and Test & React with each team having an engineering lead partnered with a product manager. It comes as the firm has radically boosted its team of software engineers and product managers.
CEO José Antonio Ramos Calamonte called the news “an exciting new chapter for ASOS” that will better equip it for speedy growth.
The changes come as it fights back from a tough period that has seen its results (and its share price) declining sharply.
Fashion e-tail giant ASOS on Wednesday unveiled a radical plan to restructure its business with some big leadership changes including an MD for the UK and US and another covering Europe and the rest of the world. Through all the numerous changes, there’s a clear theme of bringing commercial and customer functions together.
ASOS
CEO José Antonio Ramos Calamonte’s aim is to create a more joined-up business that has the customer’s needs at its heart. Decision-making should be accelerated and continuous innovation and improvement will be a core focus.
The 25-year-old company also said it has “significantly” reduced its stock levels, as well as improving its product and refinancing debt. That stock levels issue is a key point given how much surplus stock the company held in recent years.
The retailer, which currently has 20 million active customers in more than 200 markets, said the changes are expected to take effect from April.
So, what are the key leadership moves that have been announced? Importantly, the company has expanded Vanessa Spence’s role from executive vice-president of creative. With the firm since 2007, she steps up from ‘only’ leading the design and creative direction for all its owned brands to become EVP brand and creative. That’s a crucial move as it sees its brand and creative strategy coming together.
There there’s the aforementioned creation of MDs for the firm’s key regions. Current VP North America Sean Trend is becoming MD for the UK and US, which is a new role. And its SVP operations Jag Weatherley becomes MD for Europe and the rest-of-world region.
Meanwhile, Michelle Wilson, previously chief of staff and strategy, is now MD of Topshop and Topman and leading a dedicated cross-functional team to ensure the brands prosper as standalone since they were sold last autumn. The brands are now majority owned by Heartland, the holding company of major ASOS shareholder and Bestseller owner Anders Holch Povlsen. But ASOS retains a minority stake and continues to sell the high-profile labels.
ASOS
Wilson will also be in charge of the ASOS global wholesale division, that takes in its American partnership with Nordstrom in the US, its Indian one with Reliance Retail, and its European one with Bestseller.
Meanwhile, it was also announced that highly experienced Zalando’s software engineering VP Przemek Czarnecki joined ASOS earlier in February as its EVP technology. That role had been held by interim EVP Hugh Williams.
And that’s not the end of the changes. To “better align strategic decision-making and communication”, EVP people experience Ras Vaghjiani’s role is also expanding to become EVP people, communications and strategy. And supporting Vaghjiani will be Rishi Sharma, promoted from interim general counsel and company secretary to SVP corporate affairs and strategy.
The business is also creating product development teams (PDTs) with a focus on strategic priorities such as loyalty and Test & React with each team having an engineering lead partnered with a product manager. It comes as the firm has radically boosted its team of software engineers and product managers.
CEO José Antonio Ramos Calamonte called the news “an exciting new chapter for ASOS” that will better equip it for speedy growth.
The changes come as it fights back from a tough period that has seen its results (and its share price) declining sharply.