Aug 29 (Reuters) - Birkenstock ( BIRK ) marginally
missed expectations for third-quarter revenue on Thursday as
customers held back from spending on pricey footwear, such as
the German sandalmaker's cork-based shoes, amid high costs of
living.
Amid signs of easing inflation, consumers are still thinking
twice before splurging on pricey items as still-high rental and
borrowing costs make people continue to be careful with their
spending.
Birkenstock's ( BIRK ) third-quarter gross profit margin of 59.5% was
down 220 basis points from 61.7% a year ago due to the
temporary impact of capacity expansion.
The company reported quarterly revenue of 564.8 million
euros ($626.1 million), compared with analysts' estimates of
565.2 million euros, according to LSEG data.
($1 = 0.9021 euros)