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Birkenstock Beats Fourth-quarter Revenue Expectations on Strong Demand

FILE PHOTO: A shopper walks past a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville/File Photo
FILE PHOTO: A shopper walks past a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville/File Photo
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Birkenstock Beats Fourth-quarter Revenue Expectations on Strong Demand

FILE PHOTO: A shopper walks past a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville/File Photo
FILE PHOTO: A shopper walks past a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville/File Photo

Birkenstock beat analysts' expectations for fourth-quarter sales and forecast annual revenue above estimates on Thursday, in the German luxury sandal maker's first results since going public, betting on higher pricing and strong demand.
The company's sandals and clogs retail for as much as $350 a pair, and the strong results follow signs of ebbing global luxury demand, as well as lackluster sales expectations from Nike and JD Sports Fashion.
Sales are getting a lift from the company's investments to tap into the post-pandemic move away from formal dressing to more casual and informal wear, mainly in the US.
The company's quarterly revenue rose to 374.54 million euros ($407.7 million) from 321.61 million euros a year earlier, compared with market expectations of 357.39 million euros, according to LSEG data.
The company forecast fiscal 2024 revenue to be between 1.74 billion euros and 1.76 billion euros, compared to analysts' expectations of 1.72 billion euros.
Shares ended 2023 about 19% higher after a disappointing market debut in October.

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Fashion

Zara Denies Infringing Jo Malone Trademark in Estee Lauder Case

The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo
The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo
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Zara Denies Infringing Jo Malone Trademark in Estee Lauder Case

The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo
The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo

Fashion retailer Zara has denied infringing Estee Lauder's Jo Malone trademark, saying in UK High Court filings that it uses the perfumer's name on fragrances it sells in collaboration with her in line with principles the cosmetics giant set out in 2020.

Estee Lauder bought Malone's eponymous perfume brand and the rights to use her name in 1999. Malone left the company in 2006 and launched a new fragrance label, "Jo Loves", in 2011, before starting a perfume collaboration with Zara in 2019.

Although the Zara perfume bottles only feature its own branding, the lawsuit brought by Estee Lauder against Malone, "Jo Loves", and Zara's UK business is based on the words "Jo Malone" being included in the product descriptions on Zara's website and "Created by Jo ⁠Malone CBE, founder ⁠of Jo Loves" on the back of the packaging.

A spokesperson for The Estée Lauder Companies declined to comment on the defense filing by ITX, the UK subsidiary of Zara owner Inditex, which was seen by Reuters.

The spokesperson referred to the company's statement when the suit was filed in March, saying Malone agreed in 1999 to "refraining from using the Jo Malone name in certain commercial contexts, including the marketing of fragrances".

ITX said in its defense filing that Estee Lauder complained in August 2020 about "Jo Malone" being ⁠used in a post on Zara's official Weibo social media account in China, but that the US company's lawyers had said in October of that year that this was within the permitted scope of use.

The ITX filing said Estee Lauder's lawyers at the same time set out principles for Zara's use of the name, saying Zara should use "Jo Malone CBE,Ms Jo Malone,Ms Malone" or "Jo" to differentiate between the individual and the brand, and not refer to her as founder of the fragrance brand Jo Malone.

The wording on the perfume packaging and on Zara's website is in accordance with those principles, ITX said in the filing.

ITX said the case triggers the broader question of how Malone "can fairly and legitimately refer to herself" in light of Estee Lauder's trademark. The Zara perfume ⁠descriptions now read: "In ⁠collaboration with perfumer Ms. Jo Malone CBE, founder of Jo Loves."

Malone, who did not immediately respond to an emailed request for comment, posted a video statement on her personal Instagram account last month about the use of her name.

"Seven years ago, I started to work with Zara, they approached me, they didn't approach a company, they didn't approach a brand, they didn't approach a logo, they approached me, Jo Malone, the person ... we have gone above and beyond to make sure everyone understands this has nothing to do with Jo Malone London the company," she said in the statement.

ITX also denied Estee Lauder's claim of "passing off" - the practice of misleading consumers into thinking goods or services are those of another company - and denied the lawsuit's characterization of its perfumes as "budget".

On Zara's UK website the perfumes, including "Energetically New York,Elegantly Tokyo," and "Fashionably London" are priced at 35.99 pounds ($48.82) per 100ml bottle. Jo Malone perfumes sell for 122 pounds and above for the same volume.

Inditex declined to comment on the ITX filing.

Fashion

Superdry Co-founder Jailed by UK Court for Eight Years for Rape

FILE - People cue in the rain waiting for the grand opening of the Superdry store in New York's Times Square, on May 9, 2012. (AP Photo/Richard Drew, File)
FILE - People cue in the rain waiting for the grand opening of the Superdry store in New York's Times Square, on May 9, 2012. (AP Photo/Richard Drew, File)
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Superdry Co-founder Jailed by UK Court for Eight Years for Rape

FILE - People cue in the rain waiting for the grand opening of the Superdry store in New York's Times Square, on May 9, 2012. (AP Photo/Richard Drew, File)
FILE - People cue in the rain waiting for the grand opening of the Superdry store in New York's Times Square, on May 9, 2012. (AP Photo/Richard Drew, File)

The co-founder of British fashion brand Superdry, James Holder, was sentenced to eight years in jail for rape on Thursday at a court in southwest England.

A jury found Holder, 54, guilty last week of raping a woman in 2022 after meeting her in a bar in Cheltenham.

Judge David Chidgey described the rape by the multimillionaire fashion boss as "a despicable piece of sexual violence.”

"It was about your sense of entitlement and your sense of doing what you wanted and your causal disregard for the victim's absolute right to say what she wanted to do with her own body," Chidgey told Bristol Crown Court.

Holder was one of the co-founders of Superdry in 2003, but left the group in 2016.

The streetwear brand was delisted from the London Stock Exchange in 2024 after announcing a drop in sales and has rebranded as Superdry & Co.

Fashion

Zalando Posts Higher Quarterly Growth on AI-driven Efficiency Gains

05 May 2026, Hamburg: Co-CEO of Zalando David Schroeder speaks during the OMR digital trade show at the Hamburg Messe exhibition halls. Photo: Daniel Bockwoldt/dpa
05 May 2026, Hamburg: Co-CEO of Zalando David Schroeder speaks during the OMR digital trade show at the Hamburg Messe exhibition halls. Photo: Daniel Bockwoldt/dpa
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Zalando Posts Higher Quarterly Growth on AI-driven Efficiency Gains

05 May 2026, Hamburg: Co-CEO of Zalando David Schroeder speaks during the OMR digital trade show at the Hamburg Messe exhibition halls. Photo: Daniel Bockwoldt/dpa
05 May 2026, Hamburg: Co-CEO of Zalando David Schroeder speaks during the OMR digital trade show at the Hamburg Messe exhibition halls. Photo: Daniel Bockwoldt/dpa

European online fashion retailer Zalando on Wednesday reported stronger quarterly growth, citing investments in artificial intelligence that were improving its efficiency.

Gross merchandise volume (GMV), a key revenue metric measuring the value of all goods sold, rose 21.7% to 4.3 billion euros ($5.03 billion) in the first quarter, compared to 3.5 billion euros a year earlier, Reuters quoted the company as saying.

Zalando highlighted the impact of its "Zalando Assistant", a chat-based AI tool that acts like a fashion stylist, providing beauty advice ⁠and allowing customers ⁠to receive personalized product suggestions through conversations.

The company added that AI-generated images were also helping it bring new partner items online faster and improve quality, allowing it to publish about 85% more content.

"Our strong first quarter demonstrates the strength of our strategy. We are very ⁠satisfied with the progress we’re making in strategically scaling AI innovations and integrating ABOUT YOU,” Co-CEO Robert Gentz said in a statement.

Zalando is investing heavily in refining its offer to customers and strengthening its European logistics network, which it has also opened up to partners, as it seeks to drive growth amid faltering consumer spend and competition from fast-fashion retailers with cheaper offerings such as Shein.

It concluded its acquisition of About You last year, in ⁠a deal ⁠valuing its smaller rival at 1.13 billion euros.

Shares in Zalando were flat by mid-morning, after initially rising as much as 4.6% in early trading.

The company confirmed its full-year guidance for 2026.

"Given the relatively high short interest, we would expect the stock to move higher, although the lack of implied upgrades and ongoing concerns on the mid-term outlook from the development of agentic commerce, mean that any material move up is unlikely to be sustained in our view," analysts at J.P. Morgan said.