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The proactive shift away from China positions SHOO favorably against potential tariffs, similar to past tariff hikes influencing stock movements.
What happened, with direct paths to the underlying reporting
Steven Madden plans to shift sourcing from China due to potential tariffs. Tariffs may exceed 60%, impacting retail companies reliant on Chinese imports. Company aims to reduce goods sourced from China by 40-45% in the next year. Factories are being developed in Cambodia, Vietnam, Mexico, and Brazil. Stock rose 3.1% following earnings call amid these developments.
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