Sam Poser's questions to Birkenstock Holding (BIRK) leadership • Q3 2025
Question
Sam Poser from Williams Trading, LLC asked for the comparable store sales growth, the specific reported revenue guidance for the full year considering FX, and a clarification on whether the new 15% tariff rate was an improvement over the previously anticipated stacked tariff.
Answer
David Kahan, President of Americas, reported that comparable sales in own retail stores were up in the high teens. CFO Ivica Krolo detailed the FX impact, expecting a 400 basis point drag on revenue in Q4 and a 150-200 basis point drag for the full year. He also confirmed that the current 15% blended tariff rate is indeed more favorable than the 21% blended rate that would have resulted from the previously feared reciprocal tariffs.