Birkenstock shares plunge more than 15% after sandal maker misses profit estimates

Birkenstock shares plunged more than 15% on Thursday after the sandal maker missed quarterly profit expectations on a global expansion plan that hit its margins. The Germany-based company reported an adjusted profit per share of 54 cents, below LSEG analysts' expectations of 58 cents. The retailer reported revenue of $624.6 million, up 19% since last year but slightly below estimates of $625.6 million. 3 Birkenstock shares plunged nearly 15% on Thursday after the company reported profit that missed expectat ...