\n<\/p>\n
Price rises and strong sales of closed-toe clogs helped the shoe maker Birkenstock beat profit expectations as it became the latest beneficiary of the \u201cugly shoe summer\u201d.<\/p>\n
The German sandal maker said sales rose 16% in the three months to the end of June, if currency fluctuations were excluded. The average price of its products sold rose by about 5% and the number of items sold rose by about 8%.<\/p>\n
There was demand for its suede leather closed-toe Boston clogs, which sell for as much as \u00a3250 and generally cost more than the brand\u2019s more well-known sandals, which are priced from \u00a3105 for a leather version.<\/p>\n
Total sales at the company, which listed on the US stock market in October 2023 valued at $7.5bn (\u00a35.5bn), rose 12% to \u20ac635m (\u00a3546m) in the quarter with net profit up 73% to \u20ac129m.<\/p>\n
This summer there has been an upturn in popularity of quirky footwear, from rubber flip-flops to glove-like fitness shoes that fit each individual toe.<\/p>\n
However, the \u201cugly\u201d footwear brand Crocs last week reported a 30% slump in sales amid new competition from split-toe shoes to flip-flops and Birkenstock\u2019s clogs, which come in plastic as well as leather.<\/p>\n
Known for its cork-lined sandals, Birkenstock pledged to make its offering more varied, with more clogs, trainers, shoes and boots when it launched on the stock market.<\/p>\n
The company makes 95% of its shoes at its own factories in Germany. Its chief executive, Oliver Reichert, said it was \u201cwell-positioned to manage the impact\u201d of new US import tariffs of 15% on goods imported from the EU.<\/p>\n
He said the higher costs would be managed through a combination of \u201cpricing adjustment, cost discipline and inventory management to protect the long-term health and profitability of the Birkenstock brand\u201d.<\/p>\n
skip past newsletter promotion<\/p>\n
Sign up to Business Today<\/span><\/p>\n Get set for the working day \u2013 we’ll point you to all the business news and analysis you need every morning<\/p>\n Privacy Notice: <\/strong>Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.<\/span><\/p>\n after newsletter promotion<\/p>\n Reichert said that the company was on track to achieve full-year sales growth at the top end of expectations of 15% to 17%.<\/p>\n","protected":false},"excerpt":{"rendered":" Price rises and strong sales of closed-toe clogs helped the shoe maker Birkenstock beat profit expectations as it became the latest beneficiary of the \u201cugly shoe summer\u201d. The German sandal maker said sales rose 16% in the three months to the end of June, if currency fluctuations were excluded. The average price of its products<\/p>\n","protected":false},"author":1,"featured_media":16153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[9563,4510,3570,9564,1207,111,3451],"class_list":{"0":"post-16152","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-birkenstock","9":"tag-fashion","10":"tag-sales","11":"tag-shoe","12":"tag-step","13":"tag-summer","14":"tag-ugly"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/16152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16152"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/16152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/16153"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}