8 Most Profitable New Stocks To Invest In

6. Birkenstock Holding (NYSE:BIRK)

TTM Net Income: $118.7 million

Number of Hedge Fund Holders: 33

Birkenstock Holding (NYSE:BIRK) manufactures and sells footwear products, making sandals, shoes, closed-toe silhouettes, skincare products, and accessories. It’s famous for its unique footbeds, which are designed to provide comfort and support. It has a strong following and is considered a premium footwear brand.

It added 7 new stores in the third fiscal quarter of 2024, bringing the total to 64. The membership program grew by 36% to 6.9 million members. These engaged members spend more frequently and over 25% more per transaction than non-members. The company’s online members grew 30% in FQ3.

The company achieved strong 19% revenue growth in FQ3 2024 compared to the year-ago period, driven by B2B and D2C business growth, by 23% and 14% respectively. The Americas segment revenue was up 15%, while Europe saw 19% growth. The APMA was again the fastest-growing segment in the third quarter of fiscal 2024, with revenue growth of 41%.

Consumers’ shift towards in-person shopping led to increased sell-through rates and reorders. The B2B business grew significantly, with ~90% of growth coming from existing doors. Wholesale doors remain crucial brand touchpoints, and it continues to expand its retail footprint selectively. Its digital business and membership program are also thriving, along with its iconic styles.

Birkenstock Holding’s (NYSE:BIRK) strong financial performance demonstrates its ability to deliver on promises. As it expands into new markets, it’s increasing its brand awareness and taking market share. It remains fully committed to its medium—and long-term targets, making it a great investment opportunity.