All articles tagged with #birkenstock
Birkenstocks are offering up to 50% off on select styles ahead of Labor Day, making it a great time to buy versatile and comfortable sandals for the end of summer and fall, with deals available at Birkenstock and Nordstrom Rack.
The adidas adimule clog is a sleek, leather slipper inspired by Birkenstock's Boston style, featuring adidas branding and a minimalist design, available for under $100, and hinting at more innovative styles to come.
Top brands like Kate Spade, Birkenstock, Levi's, and Reebok are offering early Black Friday deals with discounts up to 79% on items such as bags, denim, and sneakers. Notable deals include Kate Spade's Julia Small Shoulder Bag for $64, Hoka Bondi 8 Sneakers for $132, and Levi's 311 Shaping Skinny Jeans for $33. These deals are expected to sell out quickly.
Birkenstock sandals, favored by celebrities like Reese Witherspoon and Margot Robbie, are on sale for one more day during Gilt's Memorial Day event. Popular styles such as the Arizona and Gizeh are available at discounted prices, but sizes are selling out quickly.
Birkenstock Arizona sandals, favored by celebrities like Reese Witherspoon and Margot Robbie, are currently on sale at Gilt with discounts of up to 32 percent. The sale includes various styles, from classic neutrals to trendy colors, and offers options in synthetic and real leather materials. This rare opportunity to snag these popular and comfortable sandals at a reduced price is available for a limited time.
John Cena's appearance at the 2024 Oscars in Birkenstock Arizona sandals went viral, sparking interest in his footwear. The exact pair he wore, as well as similar styles, are available for purchase, with prices starting at $110. Cena's choice of footwear drew attention, and Birkenstocks have been previously worn at the Oscars, including by Frances McDormand in 2019. Other Hollywood leading men, such as Chris Pine and Leonardo DiCaprio, have also been spotted wearing Birkenstocks, showcasing the brand's popularity among celebrities.
Newly listed Birkenstock beat revenue expectations in its first fiscal quarter as a public company, reporting a 22% year-on-year jump in sales, driven by higher pricing and rising U.S. demand. The company reported a net loss of 4 euro cents per share, but excluding one-time items, it reported a profit of 9 euro cents per share, matching Wall Street estimates. CEO Oliver Reichert highlighted the deliberate distribution strategy to keep demand higher than supply and emphasized the company's confidence in delivering its gross profit margin and adjusted EBITDA margin objectives. Since going public, Birkenstock has seen its market cap double to around $9.7 billion, and it has used some of its proceeds to pay down debt.
Despite strong sales and sustained demand for its sandals, Birkenstock expects smaller profits in the next year due to planned ramp up costs and modest headwinds impacting margins. The company reported a 20% sales increase for 2023, with a 6% rise in unit sales and a 14% increase in average selling price. Analysts attribute the profit outlook to inflation and conservative guidance, but anticipate margins to reaccelerate as additional capacity comes online. Birkenstock's premium yet accessible product has remained popular with both older comfort-seeking consumers and younger shoppers, and the company's focus on casual comfort aligns with current consumer preferences.
Birkenstock is increasing spending to open stores and expand production, expecting sales to rise more than 15% in its 2024 financial year, but the forecast failed to impress investors, causing shares to drop more than 8%. Despite executives' optimism, profits fell last year and margins are expected to shrink further in 2024 as the company continues to invest. Birkenstock, which recently listed its shares in the US, is facing skepticism about the sustainability of strong consumer spending and economic growth. Boss Oliver Reichert remains undeterred, emphasizing the brand's growth potential and conservative full-year forecast of 17-18% sales growth in 2024.
Midday stock movements include Apple, Humana, Taiwan Semiconductor, and Birkenstock experiencing significant changes.
Birkenstock shares dropped nearly 10% after the company's first earnings report since its IPO warned about its 2024 profit outlook, citing a quarterly loss of about 28.3 million euros and plans to invest nearly 150 million euros in retail store expansion and production capacity. Despite the challenges, CEO Oliver Reichert expressed confidence in the company's growth potential for 2024, emphasizing plans for geographic and production expansion.
Birkenstock's first results since its IPO disappointed investors, causing shares to drop as much as 14% as the company warned of pressure on annual earnings due to global expansion plans and underestimated inflation effects. The company plans to raise prices on its products and expects a modest headwind on costs tied to investments, with a conservative outlook for 2024. Despite the profit warning, Birkenstock forecasts annual revenue above market expectations and reports resilient demand for its footwear, with quarterly revenue surpassing estimates.
German footwear maker Birkenstock's shares fell as much as 14% after its first post-IPO results disappointed investors with a profit warning, citing pressure on annual earnings due to global expansion. The company plans to raise prices on its sandals and clogs to counter inflation effects, and expects a modest headwind on costs tied to investments, with a conservative adjusted EBITDA margin outlook for 2024. Despite the drop in shares, Birkenstock forecasted higher revenue for 2024, above analysts' expectations, driven by resilient demand and efforts to boost sales through its own website and stores.
German sandal maker Birkenstock's stock ended more than 12% below its IPO price in its underwhelming Wall Street debut, signaling investor caution towards new listings. The shares started trading at $41, below the IPO price of $46, and closed at $40.20, down 12.61%. This marks the worst debut by a company worth over $1 billion in nearly two years. The weak performance follows the lackluster market debuts of other high-profile companies, indicating weak investor demand and questioning the valuations of these companies. Despite the disappointing debut, Birkenstock still has a market capitalization of over $8 billion, double the amount at which L Catterton acquired a majority stake in the company in 2021.
German sandal maker Birkenstock had an underwhelming IPO debut on Wall Street, with its stock closing more than 12% below its initial public offering price. The shares started trading at $41, below the IPO price of $46, and closed at $40.20. This marks the worst debut by a company worth over $1 billion in nearly two years. The weak performance reflects cautious investor sentiment towards new listings, as other recent high-profile IPOs have also seen their shares fall. Despite the disappointing debut, Birkenstock still has a market capitalization of over $8 billion, double the amount at which L Catterton acquired a majority stake in the company earlier this year.