After a turbulent start to life as a public company, Birkenstock is being tipped by analysts to have a stronger and calmer end to 2024.

The footwear brand, which floated on the New York Stock Exchange in October, will publish its Q3 numbers on Wednesday, and CMC Markets has cited its profitability and revenue growth as reasons to feel optimistic about its prospects.

Michael Hewson, chief market analyst at CMC Markets UK, said: "They say timing is everything when it comes to IPOs and we can safely say Birkenstock's timing was off, given the sharp sell-off in October. "One thing in its favour is that the business is profitable... seeing total revenue in 2022, of $1.35bn and net income of $202.8m."

The 250-year-old German company priced its shares at $46 at IPO, but by the end of trading they had fallen to below $41. Two days later they got to as low as $36, but since then recovered with shares at over $42.

(c) 2023 City A.M., source Newspaper