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Birkenstock raises annual revenue forecast on strong footwear demand

2024.05.30 05:16

(Reuters) – Birkenstock (NYSE:) raised its annual revenue forecast on Thursday, as the German sandal maker bets on benefits from full-price selling and strong demand for its closed-toe silhouettes and cork-based sandals.

Wholesale retailers are still stocking up on in-demand products like Birkenstock despite a wider effort to cut back on inventory due to waning demand for discretionary items such as footwear.

Demand for Birkenstock’s sandals and shoes made of cork also got a boost from Margot Robbie donning a pair of pink Birkens in the movie “Barbie” last year.

The company now expects fiscal 2024 revenue between 1.77 billion euros ($1.91 billion) and 1.78 billion euros, compared with its prior forecast of 1.74 billion euros to 1.76 billion euros.

© Reuters. FILE PHOTO: A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville/File Photo

Birkenstock reported quarterly revenue of 481.2 million euros, compared with market expectations of 466.1 million euros, according to LSEG data.

($1 = 0.9246 euros)



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