Birkenstock's fourth-quarter revenue beats on resilient demand

Reuters

Dec 18, 2024

UPDATE 1-Birkenstock's fourth-quarter revenue beats on resilient demand

Adds background in paragraphs 2-3

Dec 18 (Reuters) - Birkenstock BIRK.N beat market expectations for fourth-quarter revenue on Wednesday, helped by robust full-price sales of the German footwear maker's pricey sandals.

With fresh and popular styles becoming a priority for consumers, particularly in its largest market in the Americas, Birkenstock's sandals and close-toed clogs alike have drawn loyal customers to its stores, allowing the company to sell more products at full price.

The company, which debuted on the New York Stock Exchange in October 2023, invested in expanding its store presence in markets such as Japan and China, as well as increasing its manufacturing capacity this year to meet global demand.

Birkenstock reported fourth-quarter revenue of 455.8 million euros ($478.27 million), compared with the average analyst estimate of 439.2 million euros, according to data compiled by LSEG.

($1 = 0.9530 euros)

(Reporting by Juveria Tabassum in Bengaluru; Editing by Shounak Dasgupta)

((Juveria.Tabassum@thomsonreuters.com))

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