The consumer price index (CPI) in Vietnam increased by 1.14 per cent month on month (MoM) in February as prices increased in most major groups of goods and services, according to the National Statistics Office (NSO).

The increase was recorded in both urban and rural areas, which saw rises of 1.12 per cent and 1.17 per cent MoM respectively.

Vietnam’s consumer price index rose by 1.14 per cent month on month (MoM) in February as prices increased in most major groups of goods and services, official statistics show.
On an average, CPI increased by 2.94 per cent YoY in the first two months this year.
The country’s index of industrial production rose by 10.4 per cent YoY in the first two months of the year, driven by manufacturing.

On an average, CPI increased by 2.94 per cent year on year (YoY) in the first two months this year.

The transport sector’s price index fell by 3.48 per cent during the two months, reducing the overall CPI by 0.35 percentage points, largely due to a 9 per cent decline in petrol and oil prices.

Meanwhile, the country’s index of industrial production (IIP) increased by 10.4 per cent YoY in the first two months of the year, driven by manufacturing.

The growth rate was significantly higher than the 7.5-per cent increase recorded in the same period last year. Despite fewer working days in February due to the Lunar New Year holiday, overall industrial performance was resilient.

Industrial production in February alone was estimated to decline by 18.4 per cent MoM, largely reflecting the holiday period, an NSO release said. However, output still edged up by 1 per cent YoY, suggesting that the underlying momentum in the industrial sector was intact.

Manufacturing and processing continued to play the central role in driving the country’s industrial expansion. The strong performance reflects both improving domestic consumption and steady demand from export markets.

Several manufacturing industries recorded particularly robust growth during the period.

Fibre2Fashion News Desk (DS)

American designer of apparel and footwear Steven Madden, Ltd has reported higher sales for the full year ended December 31, 2025, with total revenue rising 11 per cent year on year (YoY) to $2,534.1 million. Gross margin edged up to 41.4 per cent from 41 per cent, while adjusted gross margin improved to 42.6 per cent from 41.1 per cent, supported by favourable mix and acquisition-related benefits.

The growth was driven largely by the newly acquired Kurt Geiger business, but earnings declined as operating costs increased and tariff-related headwinds pressured profitability. The company issued a 2026 revenue outlook while withholding earnings guidance amid continued uncertainty over US tariff policy.

Steven Madden has reported revenue growth of 11 per cent to $2,534.1 million in 2025, but profitability declined due to higher operating costs and tariff pressures.
Q4 sales surged 29.4 per cent, while earnings softened YoY.
The company expects 2026 revenue growth of 9-11 per cent, citing brand momentum and Kurt Geiger expansion, though rising SG&A and tariff uncertainty remain concerns.

Profitability, however, was materially lower YoY as operating expenses stepped up. Operating expenses rose to 38.2 per cent of revenue versus 30.6 per cent in 2024; on an adjusted basis, operating expenses were 35.7 per cent compared with 30 per cent a year earlier, Steven Madden said in a press release.

The income from operations fell to $80.8 million (3.2 per cent margin) from $224.9 million (9.9 per cent margin) in 2024. On an adjusted basis, operating income was $175.9 million (6.9 per cent margin) versus $253.5 million (11.1 per cent margin) in the prior year.

Net income attributable to the company declined to $44.7 million, or $0.63 per diluted share, from $169.4 million, or $2.35 per diluted share, in 2024. Adjusted net income attributable to Steven Madden was $120.9 million, or $1.70 per diluted share, compared with $192.4 million, or $2.67 per diluted share, a year earlier.

The company ended 2025 with total debt of $234.2 million and cash and cash equivalents of $112.4 million, resulting in net debt of $121.7 million. Cash flow from operations was $162.2 million in 2025 versus $198.1 million in 2024, while investing outflows rose sharply due to acquisitions, with $371.6 million spent on purchasing businesses during the year.

In the fourth quarter (Q4) of 2025, revenue increased 29.4 per cent to $753.7 million from $582.3 million in the same period of 2024. Gross margin expanded to 42.4 per cent from 40.4 per cent; adjusted gross margin improved further to 43.8 per cent, compared with 40.4 per cent a year earlier.

Operating costs rose faster than sales. Operating expenses were 37.3 per cent of revenue versus 32.9 per cent in the prior-year quarter; on an adjusted basis, operating expenses were 37 per cent versus 31.4 per cent.

The operating income declined to $36.2 million (4.8 per cent margin) from $46.7 million (8.0 per cent margin) in Q4 2024. Adjusted operating income was $50.9 million (6.8 per cent margin) compared with $52.6 million (9 per cent margin) a year earlier.

Net income attributable to Steven Madden fell to $23.2 million, or $0.32 per diluted share, versus $34.8 million, or $0.49 per diluted share, in Q4 2024. Adjusted net income was $34.3 million, or $0.48 per diluted share, compared with $39.3 million, or $0.55 per diluted share, in the prior-year quarter.

Steve Madden’s wholesale revenue in Q4 2025 was $433.3 million, up 7.5 per cent YoY. Excluding Kurt Geiger, wholesale revenue declined 2.6 per cent. Within wholesale, footwear revenue rose 11.0 per cent (or 5.5 per cent excluding Kurt Geiger), while accessories/apparel increased 3.1 per cent but fell 13 per cent excluding Kurt Geiger.

Wholesale gross margin was 30.7 per cent versus 30.5 per cent in Q4 2024; adjusted wholesale gross margin improved to 31.5 per cent, with the company noting the addition of Kurt Geiger was partly offset by the impact of new tariffs on goods imported into the United States.

Direct-to-consumer (DTC) revenue climbed 79.9 per cent to $316.6 million. Excluding Kurt Geiger, DTC revenue increased 1.6 per cent. DTC gross margin declined to 57.7 per cent from 62 per cent, while adjusted DTC gross margin was 59.8 per cent versus 62 per cent, reflecting the addition of the Kurt Geiger concessions business and tariff impacts.

At quarter-end, the company operated 399 company-run stores (including 98 outlets), seven e-commerce websites, and 133 company-operated concessions in international markets.

Edward Rosenfeld, chairman and CEO of the company, commented: “We are pleased to have delivered above-guidance earnings results for the fourth quarter, driven by improved performance in our core Steve Madden footwear business as well as a strong contribution from the newly acquired Kurt Geiger. Looking to 2026, we are encouraged by the momentum building in our flagship Steve Madden brand and the opportunity for growth in Kurt Geiger London. That said, we expect pressure on our private label business as well as higher SG&A driven by the normalisation of incentive compensation and the restoration of senior executive salaries. While we continue to face uncertainty related to tariffs, the fundamentals of our business are strong. Our product assortments and marketing campaigns are resonating with consumers, our brands are powerful and gaining relevance, and we have a sound strategy for long-term value creation with multiple levers for growth.”

For 2026, Steven Madden expects revenue to increase 9-11 per cent YoY. The company is not providing earnings guidance at this time due to uncertainty linked to recent developments in US tariff policy.

Fibre2Fashion News Desk (SG)