Birkenstock raised its fiscal 2026 outlook after third-quarter sales beat expectations, with direct-to-consumer demand outpacing wholesale and full-price demand holding up despite inflation pressure and heavier markdowns across retail. Revenue rose 13% to 720 million euros, or $836.49 million, while adjusted EBITDA increased 11% to 242 million euros; adjusted earnings of 86 cents a share narrowly missed estimates. The sandal maker now expects 15% constant-currency revenue growth, reported revenue toward the high end of its 2.30 billion-euro to 2.35 billion-euro range, and at least 710 million euros of adjusted EBITDA. Margins were squeezed by foreign exchange and incremental U.S. tariffs, and the shares were up 16.88% at $42.94 on Thursday.