Consumer
Birkenstock Disappoints With Unchanged Target as Tariffs Hit
Birkenstock has benefited from growing demand for its closed-toe sneakers, boots, clogs and slippers.
Photographer: Ethan Swope/Getty ImagesBirkenstock Holding Plc kept its full-year forecast unchanged, disappointing investors after US tariffs and currency swings weighed on the German sandalmaker’s profit.
Shares in Birkenstock fell more than 10% in premarket trading in New York. They were down 7.2% this year through Tuesday’s close, trailing the S&P 500 Index amid investor concerns about the impact of trade friction, inflation and the conflict in the Middle East on footwear manufacturers.