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credit: Shutterstock
credit: Shutterstock

Birkenstock Raises Its Growth Forecast

Following last year’s successful Barbie boom, the renowned sandal manufacturer Birkenstock has also proved stable this summer.

The company has revised its sales and profit forecasts upwards, which encourages investors and pushes up share prices.

Birkenstock continues to benefit from robust demand. The company has raised its expectations for turnover and profit in the current financial year. The positive business figures had a direct impact on the share price. The market was highly optimistic in Europe, where the shares climbed by double digits at times, reaching a peak value of 52.06 euros, while in pre-market US trading, the value of the shares rose by up to 9%.

Overall, in the second quarter concluded at the end of March, turnover reached a new record of 481.2 million euros. This exceeded the previous year’s level by 22 percent. Despite a lower gross margin, reported net profit rose by 45% to 71.7 million euros, while net profit for the quarter grew by three percent to 77.0 million euros.


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