New Delhi, Aug. 13 -- Shares of Birkenstock Holding surged 20% in Thursday's trade, reaching a three-week high of $46.30 on the NYSE, after the company reported better-than-expected fiscal third-quarter results and raised its full-year sales growth forecast, indicating that the demand for its products will stay strong.

It is benefiting from the growing appetite for its closed-toe sneakers, boots, clogs, and slippers, which often command higher prices than the classic sandals.

For the quarter ended June, the company reported 13% year-on-year revenue growth on a reported basis and 15% in constant currency to €720 million in the June quarter, at the high end of its 13-15% sales growth target for fiscal 2026.

Revenue growth remained ...