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Birkenstock misses quarterly profit forecasts as expansion plan hurts margins

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Birkenstock misses quarterly profit forecasts as expansion plan hurts margins

Aug 29 (Reuters) – Birkenstock (BIRK.N)opens new tab Quarterly earnings expectations were missed on Thursday as the German sandal maker’s global expansion and production increases led to a decline in its margins, sending shares down 12% in early trading. Due to strong global demand and to increase sales through its own channels, where products are […]

Polish refinery Orlen reports losses in the second quarter due to tax payments and lower gas prices

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Polish refinery Orlen reports losses in the second quarter due to tax payments and lower gas prices

WARSAW, Aug 21 (Reuters) – Polish oil refiner Orlen (PKN.WA)opens new tab The state-owned company suffered a loss of 40 million zloty ($10.42 million) in the second quarter, after posting a net profit of 6.1 billion zloty in the previous year. The reason for this was tax payments on increased profits and lower gas prices, […]