Birkenstock jumps after raising annual revenue forecast on strong demand
BUZZ-Birkenstock jumps after raising annual revenue forecast on strong demand Updates
** Shares of German sandal maker Birkenstock BIRK.N up as much as 19.1% at $43.76
** Stock set for its best day since May 2026, if gains hold
** Co raises full-year sales growth forecast, betting on resilient demand for its premium sandals from higher-income shoppers
** "The company’s diverse product lineup, with regard to both style and costs, is enabling it to stay relevant with price- and trend-conscious shoppers" - EMarketer analyst Rachel Wolff
** Sees fiscal 2026 sales growth of 15%, compared to prior forecast of 13% to 15% rise
** BIRK posts Q3 revenue of 719.5 million euros ($829.08 million), beating analysts' estimates of 713.4 million euros - data compiled by LSEG
** Logs quarterly adjusted EPS of 0.74 euros vs expectations of 0.76 euros
** Up to last close, stock down ~10% YTD
($1 = 0.8678 euros)
(Reporting by Shania S Thoma and Sanskriti Shekhar in Bengaluru)
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