Core Insights - Birkenstock's growth strategy emphasizes expanding beyond sandals, targeting opportunities in the Asia-Pacific (APAC) region, direct-to-consumer (DTC) channels, and closed-toe shoes [1][4][5] Financial Performance - The company reported a revenue growth of 41% and EBITDA growth of 38% in the first two years post-IPO, with a deleverage of 55% [2] - Preliminary Q1 FY26 revenue reached EUR 402 million, reflecting an 18% increase on a constant-currency basis and an 11% reported growth [6][7] - Adjusted gross margin fell to 57.4%, down 290 basis points year-over-year, primarily due to foreign exchange and U.S. tariffs [11] Growth Strategy - Management reaffirmed a three-year plan targeting 13-15% constant-currency revenue growth, over 30% EBITDA margins, and approximately 15-17% EPS growth in constant currency [5][12] - The company aims to double APAC revenue by FY28, with expectations of about EUR 1 billion incremental revenue by fiscal 2028 compared to fiscal 2025 [14][18] Regional Insights - In the Americas, the company has around 10,000 distribution points and plans to open 30 additional stores, expecting over 10% growth in the region [15][16] - EMEA is characterized by a strong margin profile and growth opportunities in under-penetrated markets [17] - APAC is positioned in the premium luxury segment, with plans to open 70 stores and add 100 partner stores, expecting revenue to double over three years [18] Supply Chain and Capacity - The vertically integrated supply chain model supports a target of 10% annual unit growth, with significant investments in production facilities [19][20] - Expansion efforts are underway at key sites to enhance production capabilities and efficiency [21]

Group 1 - The company will open two new distribution centers to meet the increasing demand for GLP-1s and other refrigerated medications [1] - A third distribution center will be expanded to further accommodate the surge in demand [1]

Core Insights - Cardinal Health has opened a new distribution center in Fort Worth, Texas, dedicated to its at-Home Solutions business, which serves over 6 million people annually in the U.S. [1] - The Fort Worth facility is the third distribution center built from the ground up in three years, with a size of 340,000 square feet, capable of shipping approximately 10,000 packages daily [2] - The company has expanded its distribution network by over 750,000 square feet in three years, incorporating advanced robotics and automation technology [3] Investment and Expansion - Cardinal Health is committed to investing in its supply chain, emphasizing the necessity of enhancing distribution capabilities to meet customer needs [4] - Plans for further expansion include breaking ground on a new distribution center in Sacramento, California, and retrofitting an existing facility in Ontario, California, with advanced technology [5][6] - The Sacramento facility is expected to be operational by Summer 2027, aimed at improving delivery efficiency on the West Coast [6]