Birkenstock Reports Record Quarterly Revenue

Birkenstock reported a record revenue of €565 million for the third quarter of fiscal 2024, marking a 19% increase compared to the previous year. This growth was driven by strong sales of clogs, which have gained popularity among celebrities and consumers alike. Despite the revenue record, the company missed expectations slightly, leading to a 14% drop in its stock price. CEO Oliver Reichert highlighted the brand's adaptability to changing consumer preferences, noting increased demand across all segments, especially in Asia where sales rose by 41%. The net profit also increased by 18%, though gross profit margins dipped to 59.5% due to expanded production. Birkenstock aims to maintain a long-term growth trajectory with targets for continued revenue and profitability improvements.