On the morning of February 29th, Central European Time, the German century-old shoe brand Birkenstock (Birkenstock) (New York Stock Exchange stock code: BIRK) announced key financial data for the first quarter of fiscal year 2024 as of December 31, 2023: Gains Continued strong demand for its products across all regions, channels and categories led to its highest ever operating revenue in the quarter, up 22% year-on-year to €303 million, or 26% year-on-year at constant exchange rates.
Oliver Reichert, CEO of Birkenstock and member of the company’s board of directors, said: “Our results for the first quarter of fiscal 2024 once again demonstrate the resilience of our business model and the strong continued demand for our products. Given our carefully designed distribution model, in all regions , channels and categories. As previously communicated, our strategic investments in future growth are having a planned, temporary impact on our profitability. However, in the medium term, we are confident that this will continue. Achieve the goal of gross profit margin exceeding 60% and adjusted EBITDA profit margin of 30%.”
After the release of the financial report, as of the close of trading on February 29, Birkenstock’s stock price fell 2.21% from the previous trading day, with the latest market value of US$9.051 billion.
