On February 12, the century-old German footwear brand Birkenstock released its results for the first quarter of fiscal year 2026 ended December 31, 2025. Revenue increased by 11% year-on-year to EUR 402 million (at constant currency: +17.8%). Growth was primarily driven by strong holiday-season demand across all segments, channels and product categories. Revenue in the Asia-Pacific market rose by 28% year-on-year to EUR 63.018 million (at constant currency: +37%).
At constant currency, first-quarter revenue growth exceeded the company’s fiscal 2026 guidance of 13%–15%. Robust holiday demand was particularly evident in Birkenstock sandals, premiumization wool styles, as well as other closed-toe shoes and boots.
Gross profit increased by 2.7% year-on-year to EUR 224 million. Adjusted gross profit rose by 5.8% year-on-year to EUR 231 million, with an adjusted gross margin of 57.4%.
Net profit surged by 151.3% year-on-year to EUR 50.557 million. Adjusted net profit increased by 47.2% year-on-year to EUR 48.975 million.
Oliver Reichert, Chief Executive Officer and Member of the Management Board of Birkenstock, said, “Our results for the first quarter of fiscal 2026 show the continued strong demand for our brand throughout the important holiday season. As we discussed during our Capital Markets Day in New York on January 28, we believe we are a one-of-a-kind, purpose-driven brand with a huge runway for growth ahead. Our unique business model is designed for resilience.
We presented our three-year plan which calls for 13- 15% revenue growth in constant currency and 30%+ EBITDA margin. Our vertically integrated supply chain means we are capacity constrained by design. We will steer our business by geography, channel and product to maximise profit per pair and maintain strong brand equity.”
In the first quarter of fiscal 2026, Birkenstock’s capital expenditures totalled approximately EUR 38 million, of which around EUR 18 million was allocated to the acquisition of a new production facility in Wittichenau.
As of the close on February 12, Birkenstock’s share price declined by 1.45% from the previous trading day to USD 39.42, giving the company a latest market capitalisation of USD 7.25 billion. Over the past 12 months, the stock price has fallen by 29.76%.
By channel:
- B2B: Revenue increased by 18% year-on-year (at constant currency: +24%), benefiting from strong holiday demand and sell-through. Growth was mainly driven by existing stores, supported by expanded product assortments and solid full-price sell-through performance at core wholesale partners.
- DTC: Revenue rose by 4% year-on-year (at constant currency: +12%). The company opened 9 new directly operated stores during the quarter, bringing the total to 106 as of December 31, 2025.
In the first quarter, all regions achieved double-digit growth at constant currency.
— Americas
Revenue increased by 5% year-on-year, up 14% at constant currency. Growth was led by the B2B channel, with continued share gains among core wholesale partners, particularly younger trend-driven retailers and specialty sports stores. One new directly operated store was opened, bringing the regional total to 15.
— Europe, Middle East and Africa (EMEA)
Revenue rose by 16% year-on-year, or 17% at constant currency. Growth was likewise driven by the B2B channel. Three new directly operated stores were opened, bringing the regional total to 45.
— Asia-Pacific (APAC)
Revenue increased by 28% year-on-year, or 37% at constant currency. DTC growth was more than twice that of B2B, with strong performance across both e-commerce and directly operated retail. Five new directly operated stores were opened, bringing the regional total to 46.
| Source: Official press release; Luxeplace historical coverage
| Image Credit: Company official website
| Editor: LeZhi
