$BIRK

Birkenstock Holding plc (NYSE:BIRK) reported Q3 revenue of €720M, up 13%, exceeding expectations. Adjusted EPS was €0.74, slightly below consensus. The company raised full-year guidance, targeting 15% revenue growth and €710M in adjusted EBITDA. Shares rose up to 20% on August 13. Strength was driven by full-price demand from affluent buyers, with all regions showing growth. The company also executed a €230M share buyback program. Management noted currency and tariff pressures on margins.

Famous Footwear, owned by Caleres, reported a 6.3% net sales decline in Q2 2026, with comparable sales down 5.9%. CEO Jay Schmidt attributed this to weaker demand for lifestyle athletic shoes and a late back-to-school start. However, fashion footwear brands like Jordan, Birkenstock, and Brooks performed well, with fashion comps outperforming athletic by over 10 points. The company plans to expand fashion assortment and increase inventory investment to support demand, aiming for sales improvement

BMO Capital initiated coverage on Birkenstock (NYSE:BIRK) with a Market Perform rating and a $35.00 price target. The stock has fallen 16.9% year-to-date, trading near its 52-week low. BMO acknowledges Birkenstock's strong brand and supply chain but expresses caution due to maturing growth in key markets. Analysts have revised earnings downward, though revenue grew 11.8% over the last year. Recent developments include a secondary share offering and price target increases from other analysts.

Michael Burry, known for his 'Big Short' bet, disclosed August trades including long positions in MercadoLibre (MELI), Zoetis (ZTS), Lululemon (LULU), and Molina Healthcare (MOH), and short positions in Palantir (PLTR), Nvidia (NVDA), and others. Nine of his 17 long holdings rose, with Veeva (VEEV) up 35.8%, while his short bets faced pressure as AI stocks rallied, with Palantir up 51.4%. Burry adjusted his portfolio, raising cash and managing risk.

Michael Burry increased his stake in Birkenstock (NYSE:BIRK) at a 30% discount to its fair value, according to a Substack post. The company reported Q3 2026 adjusted EPS of EUR 0.74, up 19% YoY, and raised its full-year adjusted EBITDA guidance to at least EUR 710 million. Despite this, the stock fell 9.4% due to a $1 billion equity offering and a $500 million share buyback. Burry's investment thesis is based on the brand's durability and deep-value entry price.

Birkenstock (BIRK) stock rose 6.6% in pre-market trading, rebounding from near its 52-week low. The surge follows a reassessment of its fundamentals, including Q3 FY2026 revenue of €719.5 million, beating estimates, and raised guidance. Analysts maintain a Strong Buy consensus with targets above current levels, viewing the August sell-off as an overreaction.

On Holding (ONON), Grocery Outlet (GO), and Birkenstock (BIRK) are trading below recent highs despite strong fundamentals. ONON reports 34% YOY DTC growth, GO is streamlining operations, and BIRK shows healthy brand demand. All three face macro challenges but have strong long-term prospects.

Birkenstock (BIRK) shares fell 9.4% after raising 2026 revenue guidance to 15%, targeting EUR 2.3-2.35B. The company announced a $1B equity offering and $500M share buyback. Despite higher sales, profits softened, and shares are down over 30% year-to-date.

Birkenstock (BIRK) reported Q3 2026 revenue of EUR 720M, up 15% in constant currency, and raised full-year guidance. Adjusted EBITDA grew 11% to EUR 242M, while adjusted EPS increased 19% to EUR 0.74. DTC sales outpaced B2B for the first time in eight quarters. The company issued EUR 900M in senior notes and repurchased EUR 230M in shares. Management cited strong demand in APAC, particularly China, and noted risks from Middle East conflicts and closed-toe product margin drag.

Birkenstock's adjusted EBITDA margin slipped to 33.7% due to FX and tariff headwinds. Operating cash flow was $250M, but net leverage rose to 1.8x. A $1B secondary offering by L Catterton, not Birkenstock, caused a 4% stock drop. Birkenstock's buyback offsets dilution. Analysts rate BIRK a Moderate Buy with a $53.91 target.