BIRK News & Events

Birkenstock announced earlier today that it has entered into a $250M accelerated share repurchase agreement with Goldman Sachs. "Short-term market dynamics have resulted in what we believe is a strong disconnect between our share price and the strength of our underlying fundamentals", said Oliver Reichert, CEO of Birkenstock. "We believe deploying our substantial cash position toward repurchasing our own shares represents the most attractive use of capital in the current environment. Given the volatile environment of the capital markets, we will continue evaluating market conditions to take advantage of further opportunities for share repurchases in the future." Shares of Birkenstock are up 17%, or $5.72, to $38.90 following the news.

When announcing earlier today an accelerated $250M share buyback, Birkenstock said, "Our business continues to deliver outstanding performance and we see a huge runway for growth ahead for our beloved brand. We remain confident in our ability to achieve revenue growth of 13-15% annually in constant currency, while maintaining strong margins and strong free cash flow generation."