Reported about 1 month ago
Birkenstock announced a profit drop in the third quarter, missing analysts' expectations as high costs from its global expansion affect margins. The company's gross profit margin fell to 59.5% despite a 19.3% increase in revenue to 564.8 million euros. Shares dropped 10% in premarket trading, reflecting caution in consumer spending even as demand remains strong across Europe and the Americas.
Source: YAHOO