Birkenstock and Deckers Boost Earnings Forecasts Amid Strong Sales

Published 1 hours agoBIRK

Birkenstock and Deckers Boost Earnings Forecasts Amid Strong Sales

Several U.S.-listed sandal makers have recently raised their earnings forecasts due to impressive sales performances. In May 2024, Birkenstock updated its annual revenue forecast to between €1.77 billion and €1.78 billion, slightly up from a previous range of €1.74 billion to €1.76 billion. In addition, it raised its annual adjusted EBITDA forecast to between €535 million and €545 million from €520 million to €530 million. This adjustment comes as a result of high demand for Birkenstock's cork-based sandals and new styles like closed-toe clogs, especially in the U.S. and Asia, as reported by Reuters.

Similarly, in July 2024, Deckers Outdoor Corporation increased its annual profit forecast to a range of $29.75 to $30.65 per share, from a prior range of $29.50 to $30. This decision was driven by strong full-price sales of its Hoka running shoes and UGG boots, with Hoka sales rising nearly 30% in the first quarter, according to another report by Reuters.

These revisions indicate a favorable consumer response, bolstering the financial expectations for both companies. Birkenstock and Deckers remain focused on leveraging the strong demand for their popular products to drive increased profitability.

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