Strong holiday demand for Birkenstock, particularly for closed toe footwear, drove revenue up 19% in the first quarter ended Dec. 31.
That’s better-than-expected results for the company, which anticipated 15% to 17% year-over-year growth.
“Birkenstock proved to be a high-demand gifting item and must-have for our wholesale partners,” said CEO Oliver Reichert in a statement. Our clogs, other closed-toe shoes and boots performed very well, with share of business up 600 bps year-over-year.”
Revenue in the quarter was 362 million euros. B2B revenue grew by 30% in the quarter, and 90% of that came from within existing doors as retail partners expanded their Birkenstock offerings, including the closed-toe silhouettes. DTC revenue increased by 11%, or 10% in constant currency, compared to 30% growth in constant currency in the same quarter a year ago.
Birkenstock opened four new stores in the quarter, bringing the total to 71.
Birkenstock had double-digit growth across all segments, according to a news release, including:
- 16% growth in the Americas. Closed-toe silhouettes, driven by the clog category, accounted for nearly two-thirds of the America’s revenue in the quarter.
- 17% growth in EMEA. Closed-toe comprised more than 50% share of business.
- 47% growth in APAC in reported and constant currency. Birkenstock is expanding its physical presence with several new owned and partner mono-brand stores.
The company’s net profit was 20 million euros, an increase from a net loss of 7 million euros in the same quarter a year ago. Adjusted net profit was 33 million euros, up from 17 million euros. Adjusted EBITDA was 102 million euros, a 25% increase year-over-year.
“We once again saw very strong growth across all of our segments, with APAC coming in exceptionally strong as we accelerated the pace of store openings and deliveries to some B2B partners in the quarter,” Reichert said.
Birkenstock reiterated its guidance for fiscal year 2025, which includes:
- Revenue growth of 15% to 17% in constant currency
- Adjusted EBITDA margin of 30.8% to 31.3%
- Gross margin improvement, moving closer to its long-term target of 60%
“With the strong start to the year, we are confident in our ability to deliver on our guidance for 2025,” Reichert said.
