Birkenstock raised its annual sales growth forecast and beat quarterly revenue estimates on Thursday, banking on resilient full-price demand for its premium sandals from affluent shoppers, sending its shares up about 18%.
Strong pricing power and brand loyalty have helped companies such as Birkenstock that cater to wealthier consumers remain largely insulated from a wider pullback in U.S. discretionary spending affecting much of the apparel and footwear sector.
