MW Birkenstock's stock weighed down by revenue miss
Birkenstock Holding Plc's stock fell 5% early Thursday, after the iconic German sandal maker's fiscal first-quarter revenue fell short of estimates to offset a profit beat.
The company $(BIRK)$ had per-share earnings of 11 cents for the quarter, after a loss per-share of 4 cents a year ago. Adjusted for one-time items, it had EPS of 18 cents, above the FactSet consensus of 17 cents.
Revenue rose 19% to EUR362 million, but was below the EUR372 million FactSet consensus.
Revenue was boosted by strong demand during the holiday season for the company's close-toe silhouettes, as well as double-digit volume growth and mid-single-digit growth in average selling prices. Demand was strong in APAC, where the company accelerated the pace of store openings and deliveries to B2B partners.
The company is still expecting fiscal 2025 revenue growth of 15% to 17% in constant currency.
(This is a breaking news story. Check back for updates)
-Ciara Linnane
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February 20, 2025 06:30 ET (11:30 GMT)
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