Birkenstock shares surged nearly 17% on Thursday after the German sandal maker announced a $250 million accelerated share buyback.
The move follows a recent selloff triggered by slower quarterly growth and an unchanged full-year outlook.
CEO Oliver Reichert stated that the buyback reflects management's view that the stock does not fully reflect the company's fundamentals.
Shares traded at $38.66, on track for their best day since the 2023 listing, but still below the record high of $64.70 in August 2024.
The company reiterated its annual revenue growth forecast of 13% to 15%. The buyback is expected to be completed before June 30.
