1614 ET - Birkenstock is set to have another banner year in 2025, say Jefferies analysts, who are maintaining the stock as a top pick heading into next year. The footwear company earlier Wednesday reported 4Q profit and revenue exceeded expectations and margins are growing, too. Jefferies sees a number of reasons that the company will keep growing. Existing retail partners are allocating more shelf space for Birkenstock. Increased brand awareness is opening up space for the company to build its direct-to-consumer sales. And revenue growth in its closed-toe shoe segment, which rose at twice the rate of the overall group, shows potential for new categories. Shares rise 2% in a broadly down day for equities.(katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
December 18, 2024 16:15 ET (21:15 GMT)
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