Birkenstock's Stock Slides 13% After Profit Falls Short Of Estimates

Dow Jones08-29

Birkenstock Holding plc's stock fell 13% early Thursday, after the iconic German sandal maker's fiscal third-quarter profit fell short of estimates.

The company had net income of 74.6 million euros ($ 82.8 million), or 40 cents a share, for the quarter to June 30, up from EUR63.1 million, or 35 cents a share, in the year-earlier period. Adjusted for one-time items, EPS came to 49 cents, just below the 51-cent FactSet consensus.

Revenue rose 19% to EUR565 million, a whisker below the $566 million FactSet consensus. Revenue grew 15% in the Americas, 19% in Europe and 41% in APMA on a constant currency basis. Direct-to-consumer revenue grew 14% and B2B revenue grew 23%.

Chief Executive Oliver Reichert said demand was strong across all segments, channels and categories. ".. We are gaining the attention of our key retail partners and their consumers, who are becoming increasingly selective and more intentional in their spending," he said in prepared remarks. The company backed its fiscal 2024 guidance and said it still expects revenue to grow about 19% on a reported basis and 20% on a constant currency basis. The stock has gained 25% in the year to date, while the S&P 500 has gained 17%.

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The company had net income of 74.6 million euros ($...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BIRK","symbol_name":"勃肯","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2463061238","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2463061238","pubTimestamp":1724929201,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Birkenstock Holding PLC's stock  fell 10.9% early Thursday, after the iconic German sandal maker's fiscal third-quarter profit fell short of estimates. 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