Birkenstock disappoints with first profit warning post IPO

Birkenstock warned its annual earnings will face pressure as it focuses on global expansion, disappointing investors in its first results since IPOing and causing shares to drop by as much as 14%. Executives at the sandal maker revealed plans to increase prices on its products this year, acknowledging they had "underestimated the inflation effects" in fiscal 2023. For 2024, Birkenstock anticipates an underlying earnings margin of approximately 30%, down 2.4 percentage points from 2023, citing a "modest head ...