US tariffs and unfavorable exchange rates are hitting German Birkenstock, best known for its sandals, hard. In pre-market trading on Wall Street, the stock fell 10 percent after today's quarterly report.
The company's sales increased by 14 percent, but operating profit was weaker than expected. In recent years, Birkenstock has tried to take market share from competitors by launching other, more expensive alternatives to its classic sandals, such as boots and slippers.
However, the company is sticking to its full-year forecast for 2026.
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