Birkenstock said on Thursday it experienced strong holiday demand, especially for clogs, shearling and other closed-toe shoes and boots.
But despite seeing revenue growth in the first fiscal quarter of 2026, the company missed analysts’ expectations, which projected 402.1 million euros in net sales, according to data compiled by LSEG. The German footwear company reported that it saw net revenue of 401.9 million euros, an increase of 11.1 percent from 361.7 million euros the prior year period.
Net profit in Q1 was 50.6 million euros, or 27 cents per diluted share, up from 20.1 million euros, or 11 cents per diluted share, the same time last year.
By channel, the company noted that wholesale revenue grew 18 percent in the quarter, supported by strong holiday demand and sell-through. The majority of this growth came from within existing doors driven by an expanded assortment of Birkenstock styles and very strong full-price sell-through at key partners, the company noted.
Direct-to-consumer revenue was up 4 percent in Q1, while the company worked to further amplify its own-store footprint with the addition of nine new own stores during the quarter, bringing the total number of own retail stores to 106 as of Dec. 31.
By region, Birkenstock delivered revenue growth of 5 percent in the Americas in Q1, led by the wholesale channel, where the company continues to take share with key partners, especially emerging youth focused retailers and sports specialty stores. The company opened one additional owned retail store, bringing the total in the Americas to 15.
In EMEA, revenue growth was 16 percent and was led by the wholesale. The company noted that it opened three new owned retail stores in the region, bringing the total in EMEA to 45. And in the APAC segment, Birkenstock achieved revenue growth of 28 percent, with DTC growth outpacing wholesale by over two times, with strength in both online and own retail. The company opened five new owned retail stores, bringing the total in APAC to 46.
Oliver Reichert, chief executive officer of Birkenstock and member of the board of directors, reiterated in a statement that the company’s first quarter results “show the continued strong demand” for the brand throughout the important holiday season.
“As we discussed during our capital markets day in New York on Jan. 28, we believe we are a one-of-a-kind purpose-driven brand with a huge runway for growth ahead,” Reichert said. “Our unique business model is designed for resilience. Our vertically integrated supply chain means we are capacity constrained by design. We will steer our business by geography, channel and product to maximize profit per pair and maintain strong brand equity.”
Looking ahead, the company is expecting revenue growth between 10 percent to 12 percent for the full fiscal year 2026, translating into reported revenue of between 2.30 billion euros and 2.35 billion euros.
