Birkenstock shares plunge 9% as German sandal maker warns tariffs will slam profits

Shares in Birkenstock plunged 9% Thursday after the German shoe retailer warned tariffs will likely weigh heavily on its profit margins.The company – known for its chunky cork sandals – said it expects its annual gross margins will drop by a full percentage point due to US tariffs in the new fiscal year, which runs through Sept. 30, 2026.It expects adjusted earnings before interest, taxes, depreciation and amortization of at least 700 million euros, or roughly $821.8 million, with a margin of 30% to 30.5% – ...