Birkenstock beat market expectations for fourth-quarter revenue on Wednesday, helped by robust full-price sales of the German footwear maker’s pricey sandals in the United States and Asia.

With fresh styles becoming a priority for consumers, particularly in its largest market in the Americas, Birkenstock’s sandals and close-toed clogs alike have drawn new customers to its stores.

This has also allowed the company to raise prices for clogs, which increased 8% in the fiscal year ended Sept. 30.
Birkenstock’s shares were marginally lower in premarket trading after the company forecast fiscal 2025 revenue growth below market expectations.

Shoppers have approached non-essential purchases with caution despite cooling inflation, carefully comparing prices, a trend also at play during the on-going holiday season.

This has resulted in some softness in expectations from retailers in the U.S. for 2025.

Birkenstock, which debuted on the New York Stock Exchange in October 2023, invested in expanding its store presence in markets such as Japan and China, as well as increasing its manufacturing capacity this year to meet global demand.

The company reported fourth-quarter revenue of 455.8 million euros ($478.27 million), compared with the average analyst estimate of 439.2 million euros, according to data compiled by LSEG.

Birkenstock expects fiscal 2025 revenue to grow between 15% and 17%, compared with estimates of 17.5% growth.