Birkenstock (BIRK: NYSE) has released its 2025 fiscal year wrap-up and its 2026 outlook, but the latter is leaving some disappointment.
The shoemaker saw an increase of 16% for revenue on a reported basis, compared to the year before, along with a B2B revenue growth of 20%.
Gross profit margin was up too, year on year, rising from 58.8% in 2024 to 59.1%, but still took a hit from U.S. tariffs after the Trump administration imposed a 15% import tariff on most goods from the European Union back in July.
However, despite numbers looking solid for this fiscal year, Birkenstock's outlook for 2026 was reduced and fell below the expectations from Wall Street.
Gross profit margin for 2026 is expected to land in the range of 57% to 57.5% and annual revenue growth between 13% and 15%, lower than fiscal 2024 and 2025.
It also forecast adjusted earnings per share to come in at 1.90 to 2.05 euros, compared with Wall Street expectations of 2.08 euros.
"In 2026...we expect to see more impact from tariffs in COGS (cost of goods sold) than we did in 2025," Chief Financial Officer Ivica Krolo said.
