Birkenstock has raised its annual revenue and profit forecasts due to strong demand for its sandals and closed-toe styles. The company's shares rose by 14.3% following the announcement.

Birkenstock is expanding its retail stores and increasing shelf space at wholesale partners.

The company expects revenue between €1.77 billion and €1.78 billions for fiscal 2024, with adjusted EBITDA ranging between €535 million and €545 million.

However, the quarterly adjusted EBITDA margin decreased due to global expansion plans and production investments.

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