LUXEMBOURG - German footwear company Birkenstock (NYSE:BIRK) has projected a significant increase in its revenues for the fiscal year 2024, expecting figures to range between €1.74 billion and €1.76 billion ($1 = €0.92). This forecast indicates a robust year-over-year growth of 17%-18%, surpassing analysts' earlier estimates of €1.7 billion for the same period.
Despite encountering a shift from profit to loss, Birkenstock reported a strong sales performance in the last quarter, with revenues reaching €374.5 million, which exceeded market expectations. Since making its NYSE debut in October, Birkenstock's stock has seen an appreciation in value. Market analysts have echoed this positive sentiment, maintaining a Moderate Buy consensus on the company's shares.
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