US EditionBirkenstock plans price hikes to offset tariffs
- Birkenstock's sales for the quarter ending March 31 reached 574.3 million euros, marking a 19% increase year-over-year and surpassing analysts' expectations.
- The revenue growth followed higher unit sales, increased average selling prices, and plans to implement low single-digit global price hikes from July.
- Birkenstock manufactures exclusively in Germany, faces a 10% US tariff on imports, and does not plan to shift production despite tariff-related cost pressures.
- Birkenstock plans to counteract the impact of tariffs by implementing price increases across all markets, viewing this strategy as an opportunity to expand its market presence, according to the company's finance chief.
- Birkenstock raised its annual forecasts, expecting 15%-17% revenue growth and improved EBITDA margins, while executives prepare for tariff uncertainties post-July.
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Cryptocurrency News | Cryptocurrency Prices | Market CapBirkenstock is raising prices to offset the hit from Trump's tariffs
Birkenstock is raising the prices of its shoes.Rolf Vennenbernd/picture alliance via Getty ImagesBirkenstock is raising the prices of its shoes to mitigate the effect of Trump's tariffs.Its finance chief said the company will implement a "low single-digit price increase globally."The company said hikes will be rolled out globally, not just in the US.Birkenstock will be increasing the prices of its shoes globally to offset President Donald Trump'…
Birkenstock plans price hikes to offset tariffs
German sandal maker Birkenstock plans to raise prices globally to fully offset the impact of the US tariff of 10% on European Union-made goods, chief financial officer Ivica Krolo said today, as the company's sales beat expectations.
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