Why Birkenstock Stock Got Knocked Down Today
Birkenstock delivered financial results that met management's guidance, which means its guidance for the year is unchanged. The stock is expensive, and investors are taking profits.
Birkenstock Holding plc (BIRK) Q3 2024 Earnings Call Transcript
Birkenstock Holding plc (NYSE:BIRK ) Q3 2024 Earnings Conference Call August 29, 2024 8:00 AM ET Company Participants Megan Kulick - Director of Investor Relations Oliver Reichert - Director and Chief Executive Officer Erik Massmann - Chief Financial Officer David Kahan - President, Americas Alexander Hoff - Vice President of Global Finance Conference Call Participants Simeon Siegel - BMO Capital Markets Laurent Vasilescu - BNP Paribas Paul Lejuez - Citibank Jay Sole - UBS Matthew Boss - JPMorgan Micheal Binetti - Evercore Mark Altschwager - Baird Sharon Zackfia - William Blair Sam Poser - Williams Trading Dana Telsey - Telsey Group Louise Singlehurst - Goldman Sachs Jim Duffy - Stifel Operator Good morning and thank you for standing by. Welcome to Birkenstock's Third Quarter Fiscal 2024 Earnings Conference Call.
Birkenstock shares drop as quarterly financials disappoint
Birkenstock Holding PLC (NYSE:BIRK) shares traded more than 12% lower in Thursday's early deals after the designer clogs brand reported a disappointing third-quarter performance Key financials fell short of analyst expectations and margins reduced, by 220 basis points to 59.5%, with the German firm citing higher costs due to the cost of global expansion and increased production. Revenue was up 19% year-over-year to €564.8 million, slightly below the forecasted €565.2 million which was slightly less than a consensus estimate of €565.2 million.
Are Consumer Discretionary Stocks Lagging Birkenstock Holding PLC (BIRK) This Year?
Here is how Birkenstock (BIRK) and Madison Square Garden Entertainment (MSGE) have performed compared to their sector so far this year.
Are Consumer Discretionary Stocks Lagging Birkenstock Holding PLC (BIRK) This Year?
Here is how Birkenstock (BIRK) and Skechers (SKX) have performed compared to their sector so far this year.
Are Consumer Discretionary Stocks Lagging Birkenstock Holding PLC (BIRK) This Year?
Here is how Birkenstock (BIRK) and H&R Block (HRB) have performed compared to their sector so far this year.
2 Stocks to Celebrate Schaeffer's 43 Years
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Is Birkenstock Holding PLC (BIRK) Stock Outpacing Its Consumer Discretionary Peers This Year?
Here is how Birkenstock (BIRK) and iPower Inc. (IPW) have performed compared to their sector so far this year.
Birkenstock Stock Rises After Bull Notes
Shares of footwear retailer Birkenstock Holding PLC (NYSE:BIRK) are 3.9% higher at $56.51 at last glance, following a pair of bull notes.
Birkenstock shares stumble after major shareholder sells large stake
Birkenstock Holding PLC (NYSE:BIRK) shares are set to stumble 5% lower after its major private equity shareholder offloaded a chunk of its stake. L Catterton, the private equity firm that joined forces with French fashion house LVMH to buy the German footwear brand three years ago, Birkenstock said a public offering would be made of 14 million shares, worth $836.9 million at the recent $59.78 share price, with Goldman Sachs and JPMorgan leading the sale and having a 30-day option to sell up to 2.1 million further shares if there is sufficient demand.
Birkenstock's biggest shareholder is selling some shares
Shares of Birkenstock Holding BIRK, -2.75% fell 3.8% after hours on Monday after the footwear maker announced the launch of a secondary public offering of 14 million shares. The offering is by an entity affiliated with L Catterton, a private-equity firm created in part by luxury-brand conglomerate LVMH that is Birkenstock's largest shareholder.
Footwear Stock Downgraded Amid Record Highs
Publicly traded since October, Birkenstock Holding PLC (NYSE:BIRK) is hitting all-time highs today, despite a downgrade from Goldman Sachs to "neutral" from "buy.
