From CNBC:

Birkenstock shares fell 7% after the company’s first earnings report since going public. The German brand reported a loss of about 28.3 million euros, with an adjusted EBITDA margin of over 30%. Executives warned of a “modest headwind” in 2024 and plan to invest nearly 150 million euros in retail store expansion and production capacity.

CEO Oliver Reichert remains confident in the company’s growth despite the outlook. He plans to tap into “significant” geographic and production expansion. The company debuted on the stock exchange at $41 per share in October, nearly 250 years after its founding by Johann Adam Birkenstock.

Birkenstock chose to go public to “give the brand back to the people,” according to Reichert.



Read more: Birkenstock shares slump on earnings after IPO