Good morning. Welcome to the Steven Madden Annual Meeting of Stockholders. I would now like to turn the conference over to Mr. Edward Rosenfeld, CEO. Please go ahead. All right. Thank you. Good morning, everyone. I'm Edward Rosenfeld, Chairman of the Board and CEO of Steven Madden, Ltd., and I will act as chair of this annual meeting of stockholders. I'd like to welcome you to our 2026 Annual Meeting of Stockholders and take this opportunity to thank you for joining us this morning. It's now 10:00 A.M., and I am pleased to call this annual meeting to order. We are hosting this year's annual meeting in a virtual format. We have stockholders attending via the web portal. We'll conduct the business portion of our meeting first, followed by a brief overview of the company's performance, and we'll then answer questions after the adjournment of the meeting. Although we may not be able to answer all of your questions, we will do our best to provide answers to as many as possible. Stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. Joining us from our board of directors are Peter Davis, Al Ferrara, Mitchell Klipper, María Teresa Kumar, Rose Peabody Lynch, Peter Migliorini, Ravi Sachdev, and Amelia Newton Varela. Members of the company's management team, including Zine Mazouzi, our Chief Financial Officer and Executive Vice President of Operations, Lisa Keith, our Executive Vice President, General Counsel, and Secretary, and Danielle McCoy, our Vice President of Corporate Development and Investor Relations, are in attendance as well. Also present by invitation are Christina Fitkowitz and Annie Dougherty, representatives of the accounting firm of Ernst & Young LLP, our independent registered public accounting firm. Finally, Barry Shapiro, a representative of Broadridge Financial Solutions, Inc., who has been selected to serve as the Inspector of Election, is with us today. Certain formalities are required to convene this annual meeting. After these formalities, the proposals, which are stated in the notice of annual meeting and described in the proxy statement that you received, will be addressed. I'd like to begin by calling your attention to the agenda for the annual meeting, which is available on the web portal. The business of this annual meeting will follow the order set forth in the agenda. Now I'd like to present Lisa Keith, the company's Executive Vice President, General Counsel, and Corporate Secretary, who will act as the Secretary of this annual meeting. Lisa, would you please address some of the other administrative formalities relating to this annual meeting? Thank you, Ed. Good morning, everyone, and welcome. I have received the affidavit of distribution executed on behalf of Broadridge Financial Solutions, Inc. as to the mailings of the notice of this annual meeting, the company's annual report for the fiscal year ended December 31st, 2025, the company's 2026 proxy statement, and the proxy party. The affidavit of distribution will be appended to the minutes of this annual meeting. As mentioned earlier, Barry Shapiro, a representative of Broadridge Financial Solutions, Inc., has been duly selected to serve as Inspector of Election at this annual meeting. Mr. Shapiro has signed an oath of office to faithfully execute the duties of inspector with strict impartiality and according to the best of his ability. The oath of the inspector will be appended to the minutes of this annual meeting. For purposes of compliance with the Delaware General Corporation Law, which governs this meeting, the polls for the matters to be voted upon at this annual meeting will open today, Wednesday, May 20th, 2026, upon the conclusion of the preliminaries of this annual meeting. If you have already voted by proxy, there is no need to submit another proxy. If you have not yet voted and wish to do so, or if you have voted and wish to change your vote, you may do so by clicking on the voting button on the web portal and following the instructions there. I have received from the Inspector of Election his report as to quorum. The report indicates that according to a certified stockholder list from Equiniti Trust Company, LLC, the company stock transfer agent, there were 73,041,140 shares of the company's common stock outstanding and eligible to vote as of March 27th, 2026, the record date for this annual meeting. The report also indicates that the number of shares of common stock represented at this annual meeting in person or by proxy is not less than 67,169,363, which is 91.96% of the shares eligible to vote and constitutes a quorum for the purpose of transacting business at this annual meeting. Accordingly, the annual meeting is legally convened. The report will be appended to the minutes of this annual meeting. This completes the administrative formalities. I will turn the annual meeting back to Ed. Thank you, Lisa. We will proceed to the formal items of business before this annual meeting. I now declare the polls open. The polls will remain open until all the proposals have been presented. Any stockholder who wishes to vote may do so now until the polls are closed. Please note that we will afford stockholders an opportunity to comment on the proposals themselves after all proposals have been presented. As indicated in the notice of annual meeting of stockholders and the proxy materials provided to you by management of the company, the purpose of this annual meeting is, one, to elect 10 Directors to the Board of Directors of the company. Two, to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026, and three, to approve on a non-binding advisory basis the compensation of the company's named executive officers as disclosed in the 2026 proxy statement. Lisa, will you present the proposals? Yes. The first proposal is the election of 10 Director nominees. Mr. Chairman, on behalf of the Board of Directors, I nominate the following individuals to serve as directors of the company until the next annual meeting of our stockholders and until their successor is elected and qualified or their earlier death, resignation, or removal from office. Edward R. Rosenfeld, Peter A. Davis, Al Ferrara Mitchell S. Klipper, María Teresa Kumar, Rose Peabody Lynch, Peter Migliorini, Arian Simone Reed, Ravi Sachdev, and Amelia Newton Varela. Board of Directors unanimously recommends a vote in favor of each nominee in this proposal. The second proposal is the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. The Board of Directors unanimously recommends a vote in favor of this proposal. The third proposal is the approval on a non-binding advisory basis of the compensation paid to the company's named executive officers as described in the 2026 proxy statement. The Board of Directors unanimously recommends a vote in favor of this proposal. All right. If any stockholder would like to make a comment regarding any of the proposals that have been presented, please submit your comment through the web portal. Okay. All right. The polls are now closed, and the inspector of election will now tabulate the votes. All right. The inspector of election has completed his preliminary tabulation of the votes and has delivered his report as to the voting. As shown by the report, the stockholders have, one, elected the board's nominees as directors of the company until the company's next annual meeting of stockholders and until their respective successors shall be duly elected and qualified, or their earlier death, resignation, or removal from office. Two, ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. Three, approved on a non-binding advisory basis the compensation of named executive officers as disclosed in the 2026 proxy statement. The final report as to the voting will be appended to the minutes of this annual meeting and disclosed as required by applicable SEC rules. There being no further business to come before this annual meeting, the 2026 annual meeting is now adjourned. Now I'd like to take the opportunity to briefly speak to you about the company, our performance in 2025, and what we are seeing so far in 2026, followed by our question and answer session. First, Danielle, our Vice President of Corporate Development and Investor Relations, will make a statement. Thanks, Ed. I'd like to remind you that matters discussed at this annual meeting by the company's officers or directors may include forward-looking statements as defined within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, these statements relate to statements about the future involving anticipated revenues, earnings, or other aspects of the company's operating results. Because these statements are based on current assumptions and expectations, they involve known and unknown risks, uncertainties, and factors not within the company's control. As such, our actual performance and results may differ materially from these statements. Our annual report and other reports filed with the SEC from time to time include detailed discussions of risks the company faces, many of which could cause our actual performance and results to vary, and we urge you to refer to these. Any forward-looking statements represent our judgment as of the time of this meeting and cannot be relied upon as current after today's date. We disclaim any intent or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law. The financial results discussed at today's meeting are on an adjusted basis, unless otherwise noted. Reconciliations to the most directly comparable GAAP financial measure and other associated disclosures are contained in our fourth quarter and fiscal 2025 earnings release issued on February 25th, 2026, as well as our first quarter 2026 earnings release issued on May 6th, 2026. With that, I'll turn it back to you, Ed. All right. Thanks, Danielle, and thanks to all of you in attendance for joining us today. 2025 was a challenging year for Steven Madden. It was also a year that demonstrated the resilience of our business, the strength of our brands, and the agility of our team. Of course, the biggest challenge we faced was the impact of new tariffs on goods imported into the United States. The rapid implementation of these tariffs created significant disruption across our supply chain and wholesale channels and pressured both revenue and earnings during the year. Our team responded quickly and decisively, diversifying sourcing, negotiating with suppliers, adjusting pricing where appropriate, and tightly managing inventory and expenses, all while continuing to execute our long-term strategy. Despite the difficult environment, we made meaningful progress in strengthening our brands and positioning the company for future growth. In our flagship Steven Madden brand, Steve and our design teams delivered compelling trend-right assortments, which drove a significant acceleration in demand in the back half of the year, particularly in our core category of women's footwear. We supported these assortments with enhanced marketing, including richer brand and product storytelling and a more integrated full-funnel approach. These efforts deepened our connection with consumers and drove measurable gains in brand heat and engagement as the year progressed, momentum that has continued into the early part of this year. In the first quarter of 2026, global DTC comp sales for the Steven Madden brand increased 6%, or 10% excluding our stores in the Middle East, and online searches for Steven Madden increased 27%. A major milestone for the company in 2025 was the acquisition of Kurt Geiger, which we completed in May. In Kurt Geiger London, we added a brand with a unique image, distinctive design aesthetic, and compelling value proposition. Its differentiated and elevated positioning and its alignment with our strategic priorities of expanding in international markets, accessories categories, and direct-to-consumer channels make it a highly attractive and complementary addition to our portfolio. We're pleased with the progress of the integration so far and excited about the momentum we are seeing in the brand. In the first quarter of 2026, revenue for the Kurt Geiger London brand increased 23% on a pro forma basis. We also made meaningful progress across our other owned brands. Dolce Vita continued to build on its strong growth trajectory, expanding in adjacent categories such as handbags and gaining traction in international markets. At Betsey Johnson, we drove renewed cultural relevance through elevated talent partnerships, authentic community engagement, high-impact activations, and differentiated product assortments. Looking ahead, while the operating environment remains dynamic, we are encouraged by the momentum we are seeing in our business in 2026, with healthy underlying demand across our brands, driven by strong products and marketing execution. While we continue to expect pressure in our private label business and ongoing uncertainty related to tariffs, we believe the actions we took in 2025 strengthened our operating model and increased our agility. Most importantly, the fundamentals of our business are strong. We have powerful brands, a proven business model, an outstanding team, and multiple levers for long-term growth. Moving forward, we remain focused on the same strategic priorities that have driven our success for many years, strengthening our brands and deepening our connection with consumers through the combination of compelling products and effective marketing, which in turn will fuel our growth across product categories, distribution channels, and geographies. We are confident that these initiatives, combined with the creativity, resilience, and entrepreneurial spirit that define Steven Madden, position us well to deliver sustainable growth and long-term value creation. Before I conclude, I want to thank our employees around the world for their hard work and dedication during a particularly challenging year, our customers and business partners for their continued support, and you, our stockholders, for your trust and confidence in Steven Madden. Thank you. Now I will open the meeting up for questions. We would now like to open up for stockholder questions. Please note that we will attempt to answer as many questions as time allows, but only questions that are germane to the meeting will be addressed. All right. If there are no questions, we thank you for your attendance and your support of Steven Madden. Have a great day. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.