Overview
- Following Wednesday's Q2 release, shares fell to new lows after revenue came in at €618.3 million, up 7.7%, and net income dropped 22% with a slight sales miss versus forecasts.
- Gross margin slid to 53.9% from 57.7% a year earlier, which the company tied to weaker exchange rates, higher U.S. tariffs, and a shift in sales channels.
- Executives said the average tariff burden in the U.S. has risen from just over 10% to above 20%, and they flagged added margin pressure of about 100 basis points in Q3 and 50 basis points in Q4.
- The Middle East conflict cut about €6 million from EMEA sales through blocked deliveries and softer European demand, and Birkenstock is rerouting shipments and shifting inventory to faster‑growing APAC, where reported sales rose 22%.
- CEO Oliver Reichert said a recent Supreme Court development leaves the company with roughly €30 million in potential tariff refunds, though the timing of any repayment remains unclear.