Birkenstock is said to be raising its revenue growth forecast to 15% for fiscal year 2026, according to Footwear News, based on its third-quarter performance for the period ended 30 June. The group is also said to be targeting adjusted EBITDA of at least €710 million for the fiscal year.
A quarter driven by all channels
In the quarter, revenue reached €719.5 million, up 13.3% year-on-year. Quarterly profit, however, declined to €109.6 million, a drop of 15.2% from the prior year. Adjusted EBITDA margin came in at 33.7%, above the analyst consensus, which had anticipated 33.1%.
The group recorded double-digit growth across all its segments: the direct-to-consumer channel grew 14%, while wholesale grew 13%. In Europe, full-price online sell-through reached 93% over the period. Birkenstock invested €26 million in capital expenditure during the quarter to add production capacity and expand its retail operations internationally. Its own store network grew by 13 new stores, bringing the total to 124 points of sale.
« Personne d'autre n'a cette semelle et ses bienfaits », a déclaré Oliver Reichert, chief executive officer of Birkenstock, during the third-quarter earnings call, on a Thursday.
The ballet flat, a new growth driver
Product innovation remains most visible in the premium 1774 collection. The group has also multiplied collaborations around the ballet flat, with Repetto, Song for the Mute and Ader Erro, as well as the Santa Clarita model, to capture what the executive described as growing global demand for this type of shoe.
Janine Stichter, consumer retail and lifestyle brands analyst at BTIG, judged that the third fiscal quarter results came in largely above expectations, while revenue and adjusted EBITDA guidance were raised slightly, with underlying demand remaining strong across all channels and geographies. She also noted that wholesale remains supported by double-digit growth at major partners despite a more promotional market, particularly in the United States and EMEA. She concluded that the group has been able to preserve the integrity of its full prices, which in her view underscores continued demand for the brand.
