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Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising U.S. demand. Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 12% year-on-year to 81 million euros, with an adjusted EBITDA margin of 26.9%, down from 29.1% a year earlier. "However, in the medium-term, we are confident we will continue to deliver our objectives of a gross profit margin over 60% and an adjusted EBITDA margin in the low thirties percent." Within a few years, its sales nearly doubled and its market cap is now around $9.7 billion, double its 2021 valuation of $4.85 billion. Since going public, Birkenstock has used some of its proceeds to pay down debt.

Persons: Oliver Reichert, Reichert, Armour, Birkenstock, Johann Adam Birkenstock Organizations: LSEG, New York Stock Exchange, Nike, Catterton Locations: North America, Birkenstock

☆ Birkenstock shares slump as shoe company warns on profit outlook during first earnings since IPO
▼ + stars: | 2024-01-18 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +1 min

A Birkenstock banner hangs outside the New York Stock Exchange in New York on Oct. 11, 2023, as Birkenstock launches an initial public offering. Birkenstock shares slumped 7% Thursday after the company warned about its 2024 outlook during its first earnings report since its initial public offering. In its earnings report, Birkenstock said it aims to substantially grow and invest nearly 150 million euros in retail store expansion and production capacity in 2024. Reichert said he plans to tap into "significant" geographic and production expansion while the company remains "undeterred" by the broader macroeconomic landscape. The debut came nearly 250 years after the company was founded by German cobbler Johann Adam Birkenstock.

Persons: Birkenstock, Oliver Reichert, Reichert, Johann Adam Birkenstock Organizations: New York Stock Exchange, Company, CNBC PRO Locations: New York

☆ Photos: Israel-Hamas War, Sam Bankman-Fried's Trial, Fall Foliage and More
▼ + stars: | 2023-10-14 | by ( ) www.wsj.com time to read: 1 min

Birkenstock CEO Oliver Reichert (center) waves Wednesday as he rings the opening of the New York Stock Exchange, as Birkenstock launched its IPO. Birkenstock CEO Oliver Reichert waves Wednesday as he rings the opening of the New York Stock Exchange, as Birkenstock launched its IPO. Angela Weiss/Agence France-Presse/Getty Images

Persons: Oliver Reichert, Birkenstock, Angela Weiss Organizations: New York Stock Exchange, Agence France

☆ Birkenstock CEO Oliver Reichert on stock market debut
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBirkenstock CEO Oliver Reichert on stock market debutBirkenstock CEO Oliver Reichert joins 'Squawk on the Street' to discuss why now is the right time to go public, how Reichert has kept the brand relevant, and more.

Persons: Oliver Reichert, Reichert

☆ Watch CNBC's full interview with Birkenstock CEO Oliver Reichert
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Birkenstock CEO Oliver ReichertBirkenstock CEO Oliver Reichert joins 'Squawk on the Street' to discuss why now is the right time to go public, how Reichert has kept the brand relevant, and more.

Persons: Oliver Reichert, Reichert

In 2013, Birkenstock Group was formed out of a loose association of family companies, creating a corporation with three divisions. Oliver Reichert became CEO, meaning that, for the first time, the company was no longer run by a Birkenstock family member. Ellen Emmerentze Jervell for The Wall Street Journal

Persons: Oliver Reichert, Ellen Emmerentze Jervell Organizations: Birkenstock, Wall Street

☆ Birkenstock slides more than 12% in stock market debut after opening at $41 per share
▼ + stars: | 2023-10-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

A Birkenstock banner hangs outside the New York Stock Exchange (NYSE) in New York on October 11, 2023, as Birkenstock launches an Initial Public Offering (IPO). Shares of Birkenstock slid more than 12% in their debut on the New York Stock Exchange on Wednesday. The German shoe brand's stock closed at $40.20 per share, down from its opening trade of $41 per share, giving it a market value of $7.55 billion. The stock's opening price came in lower than its initial price of $46 set Tuesday, which was just shy of the midpoint of its expected range of $44 to $49 per share. The company's market debut comes nearly 250 years after it was founded by German cobbler Johann Adam Birkenstock.

Persons: Birkenstock, Johann Adam Birkenstock, Oliver Reichert, Reichert Organizations: New York Stock Exchange, Catterton Locations: New York

☆ Birkenstock IPO gets predictable shoeing
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A sign is illuminated at the entrance to a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville Acquire Licensing RightsNEW YORK, Oct 11 (Reuters Breakingviews) - Birkenstock’s (BIRK.N) IPO is a flop. The Birkenstock enterprise was gunning for a multiple of 19 times EBITDA, well above that of Europe's luxury conglomerates. And if the first-day stock woes stick, a suitor might soon walk all over Birkenstock. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Toby Melville, L, gunning, Oliver Reichert don’t, Bernard Arnault, Pamela Barbaglia, Jeffrey Goldfarb, Sharon Lam Organizations: REUTERS, Reuters, Tech, Compagnie Financiere, X, Qantas, Thomson Locations: London, Britain, United States, Europe, New York, Brussels

☆ Birkenstock, German Maker of Iconic Sandals, Files for I.P.O. in New York
▼ + stars: | 2023-09-13 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +3 min

In recent years, the brand has introduced its sandals made with non-animal materials and a dizzying array of styles and colors. But the shoes’ appeal reaches across generations, making them as popular with millennials as they are with the boomer generation. Potential Risks: The trick of taking tradition publicBirkenstock’s statement said the company would face a number of risks in going public. Among them are the dangers posed by counterfeit products, it said, along with the “intense competition” from established companies and newcomers in the shoe market. “The transition from a historically family-owned German company to a publicly held company listed on a U.S. stock exchange may negatively impact our reputation,” the statement said.

Persons: Oliver Reichert, “, Mr, Reichert, “ Barbie, ”, Barbie, Christian Dior, Manolo Blahnik, Stüssy, Valentino Garavani Organizations: U.S, Birkenstocks Locations: Germany, New York, Milan, €, U.S

☆ After Birkenstock's 'Barbie' bump, iconic footwear brand seeks a big part in IPO market
▼ + stars: | 2023-09-13 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +10 min

Footwear companies have found recent success going public market, but not all by any means over the longer-term. In more recent history, the brand has collaborated with Rick Owens, Dior, and Manolo Blahnik, among many other big names in fashion. The current IPO market landscape The IPO market has been all but frozen since the pandemic stock offering boom crashed, and successful IPOs have included iconic brands, such as the Johnson & Johnson spinoff of its consumer health business which includes Tylenol and band-Aids in the Kenvue IPO. Still, while Kenvue was the biggest deal of the year, it's barely holding onto its IPO price today, according to CNBC and Renaissance Capital data, and the IPO market overall hasn't performed great after listing. The two potential paths of a footwear IPO can be tracked by the histories of Crocs and Allbirds.

Persons: Nordstrom, Jeff Greenberg, what's, Johann Adam Birkenstock, Birkenstock, Angelo Bochanis, Oliver Reichert, outsized, Reichert, Konrad Birkenstock, Johann, Karl, Konrad, Margo Fraser, Kim Knott, Kate Moss, Corinne Day, Rick Owens, Dior, Manolo Blahnik, Jeremy Moeller, Barbie, Margot Robbie, Johnson, Kenvue, it's, hasn't, Mark Cohen, Cohen, Jamie Dimon, Dimon, Bochanis, " Cohen Organizations: Universal, Getty, New York Stock Exchange, Nasdaq, Holding, Renaissance, Consumers, British Elle, Brand, CNBC, Columbia Business School, Facebook, Wall, JPMorgan, Company Locations: Merrick, , Miami, Germany, America, California, British, Arizona, It's, U.S

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