Steven Madden Yanked Guidance After Top Court Tariff Ruling (1)

Steven Madden Ltd. pulled its profit guidance after the US Supreme Court struck down sweeping global tariffs on Friday — and President Donald Trump responded with a new set of duties.

“Prior to Friday we were planning on giving guidance for the year based on the policy that was in effect at that time,” Chief Executive Officer Edward Rosenfeld told analysts on a quarterly earnings call Wednesday. “Over the last few days there’s been an enormous amount that’s changed.”

Steven Madden didn’t issue earnings guidance because the sudden change in trade policy makes it difficult to calculate the cost ...