A globally recognized leader in fashion-forward footwear, accessories, and apparel, reported that revenue increased 6.8% to $559.0 million in the second quarter of 2025. Direct-to-consumer sales increased 43.3% from the second quarter of 2024 to $195.5 million, showcasing the impact of recent acquisitions and changing consumer behaviors. However, the brand also wrestled with new tariff expenses and a challenging wholesale environment, culminating in a net loss of $39.5 million for the quarter.
Gross profit as a percentage of revenue stood at 40.4%, compared to 41.5% in the same period of 2024. Adjusted gross profit as a percentage of revenue reached 41.9% in the second quarter of 2025. Operating expenses, impacted by tariffs, rose significantly with an adjusted operating expense ratio of 37.9% up from 31.1% in the 2024 period.
Loss from operations totaled $40.3 million, or 7.2% of revenue, compared to income from operations of…
$46.9 million, or 9.0% of revenue, in 2024. Adjusted income from operations was $22.6 million, or 4.0% of revenue, versus $54.5 million, or 10.4% of revenue, last year.
Edward Rosenfeld, Chairman and Chief Executive Officer, commented, “As anticipated, the second quarter was challenging, driven largely by the impact of new tariffs on goods imported into the United States.
Our team continues to act with agility to mitigate near-term impacts while remaining focused on positioning the company for long-term growth by executing our strategy to deepen consumer connections through the combination of compelling product and effective marketing.
The integration of Kurt Geiger is proceeding smoothly, and we are more confident than ever in its potential to be a significant driver of growth for the company in the years ahead…
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