Birkenstock yesterday shrugged off the impact of Donald Trump’s tariffs as it reported better-than- expected profits.
Chief executive Oliver Reichert said the German company had seen ‘no pushback or cancellations’ after it raised prices in response to the levies.
Birkenstock said its profits for the third quarter to the end of June climbed 16pc to £100million as revenues increased 12 per cent to £546million.
It pointed to strong demand for its sandals and shoes, including suede leather Boston clogs that sell for £150 a pair online in the UK, and said it was well placed to manage the hit from a 15 per cent US tariff on European imports.
Sales in the Americas grew by 16 per cent but that was down from 20 per cent growth in the previous three months.
Birkenstock makes 95 per cent of its shoes at factories in Germany and expects to manage the tariffs through price increases as well as by tightening control on costs and stocks.
Impact: Birkenstock yesterday shrugged off the impact of Donald Trump’s tariffs
Reichert said: ‘Our third-quarter results prove the strong foundation of our brand.’
However, shares fell in early trading after it warned that a weaker dollar would hurt its revenue and profit margins, but it stuck to its annual forecasts for profit margins and revenue.
It comes after strong full-price sales have also recently boosted performance at upmarket footwear rivals such as On Holding and Deckers Outdoor, which owns Hoka and Ugg.
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