Birkenstock raised its full-year forecast on better-than-expected second-quarter sales, with shares up about 5% in premarket trading.
The company reported earnings per share (EPS) of €0,56, beating analysts' consensus estimates of €0,54, Investing.com reports. Revenue rose 19% year-on-year to €574,3 million, also beating expectations of €567,2 million.
Operating profit increased 32% year-on-year to €175,3 million, beating expectations of €160,5 million. Adjusted EBITDA rose 23% to €200,1 million, above expectations of €191,9 million. Gross margin improved to 57,7%, from 56,3% a year earlier, and beat estimates of 56,6%.
Birkenstock expects full-year revenue growth at the high end of its previously stated range of 15% to 17%, excluding currency effects.
The sales growth is said to be driven by the success of Birkenstock's premium sandals and clogs and new versions of the Arizona Essentials and Madrid Big Buckle.
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