Birkenstock Reports 22% Q2 Revenue Surge Despite Stock Dip
Birkenstock Holding, the renowned footwear company, has reported robust growth in its second quarter, with revenue surging 22% year-over-year to 481 million euros. The company's shares, however, dropped 10% following the announcement, despite a 20% revenue increase. Birkenstock's stock price currently fluctuates around 42.24 to 38.48 EUR in the New York stock market today.
Birkenstock's global expansion has driven significant revenue growth across all regions. The Americas, Europe, and the Asia Pacific Middle East and Africa region all witnessed impressive growth of 19%, 22%, and 39% respectively. This expansion has been accompanied by a shift in consumer preferences, with closed-toe shoes now accounting for over 25% of total revenue, contributing to the company's Q2 revenue growth.
Birkenstock's direct-to-consumer (DTC) and business-to-business (B2B) segments have also experienced robust growth, with revenues increasing by 30% and 19% respectively. CEO Oliver Reichert attributed this success to sustained strong demand across all segments, channels, and categories, which continues to outpace supply. Despite the recent apple stock price dip, Birkenstock now expects fiscal year revenue of about 1.78 billion euros, indicating an overall increase of approximately 19%.
Birkenstock's strong Q2 performance, marked by robust global growth and increased demand for closed-toe shoes, positions the company for continued success. With a new plant in Pasewalk, Germany, set to expand its footprint into underpenetrated segments, Birkenstock's future looks promising despite the recent stock market fluctuation.
