Birkenstock, the sandal maker, opened 12% higher after it upgraded its full-year revenue and profit forecasts following strong demand and increased full-price selling. Revenues for the 2024 financial year are now expected to reach between €1.77 billion and €1.78 billion, a lift from initial guidance of between €1.74 billion and €1.76 billion.
Birkenstock jumped after the German shoemaker reported strong fiscal Q2 earnings and guided higher. Other footwear stocks are stepping up.
Birkenstock 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.