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Birkenstock, the sandal maker, opened 12% higher after it upgraded its full-year revenue and profit forecasts following strong demand and increased full-price selling. Revenues for the 2024 financial year are now expected to reach between €1.77 billion and €1.78 billion, a lift from initial guidance of between €1.74 billion and €1.76 billion.
Birkenstock jumped after the German shoemaker reported strong fiscal Q2 earnings and guided higher. Other footwear stocks are stepping up.
Birkenstock raised its annual revenue forecast on Thursday, as the German sandal maker bets on benefits from full-price selling and strong demand for its closed-toe silhouettes and cork-based sandals.
LONDON, UK / ACCESSWIRE / April 18, 2024 / Birkenstock Holding plc ("BIRKENSTOCK" or the "Company"), (NYSE:BIRK), announced today that the Company will report its second quarter 2024 (ended March 31, 2024) financial results on Thursday, May 30, 2024 before US market open. The Company will host a conference call and live webcast with the investment community at 8:00 a.m.
Birkenstock Holdings Plc's stock tumbled 8% Thursday, after the German sandal and clog maker posted another quarterly loss in its second earnings report as a public company.
Birkenstock Holding plc (BIRK) Q1 2024 Earnings Call Transcript
Birkenstock traded flat in the US premarket on Thursday as earnings slumped despite the sandal maker beating revenue guidance over the festive period. Revenues jumped 26% year-on-year to €303 million, beating out Wall Street predictions of just over €288 million, largely a result of both higher prices and increased demand in the States.
Birkenstock reported its holiday quarter results Thursday after it posted a record-breaking end to its last fiscal year.
Birkenstock beat market expectations for first-quarter revenue on Thursday, as the German sandal maker gained from the full-price selling of its footwear and rising U.S. demand for more casual cork-based shoes.
Birkenstock Holding (BIRK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.