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Birks Group Inc   (BGI)
Other Ticker:  
 
    Sector  Retail    Industry Specialty Retail
   Industry Specialty Retail
   Sector  Retail
 
Price: $3.2700 $-0.11 -3.254%
Day's High: $3.4 Week Perf: -0.91 %
Day's Low: $ 3.27 30 Day Perf: -15.28 %
Volume (M): 9 52 Wk High: $ 10.02
Volume (M$): $ 28 52 Wk Avg: $5.12
Open: $3.38 52 Wk Low: $2.78



 Market Capitalization (Millions $) 61
 Shares Outstanding (Millions) 19
 Employees -
 Revenues (TTM) (Millions $) 163
 Net Income (TTM) (Millions $) -7
 Cash Flow (TTM) (Millions $) -1
 Capital Exp. (TTM) (Millions $) 8

Birks Group Inc
The Company is the nation's largest broadline closeout retailer. The Company's goal is to build upon its leadership position in broadline closeout retailing by expanding its market presence in both existing and new markets. The Company believes that the combination of its strengths make it a low-cost value retailer well-positioned for continued growth. The Company's Web site is located at www.biglots.com. Wholesale operations are conducted through Big Lots Wholesale, Consolidated International, Wisconsin Toy, and with online purchasing at www.biglotswholesale .com.

CLOSEOUT RETAILING

Closeout retailers provide a service to manufacturers by purchasing excess product that generally results from production overruns, package changes, discontinued products, or returns. Closeout retailers also take advantage of generally low prices in the off-season by buying and warehousing seasonal and general merchandise for future sales. As a result of these lower costs of goods, closeout retailers can offer merchandise at prices lower to significantly lower than those offered by traditional retailers.

RETAIL OPERATIONS

The Company's stores are known for their wide assortment of closeout merchandise. Certain core categories of merchandise are carried on a continual basis, although the specific brand-names offered may change frequently. The Company's stores also offer a small but consistent line of basic items, strengthening their role as dependable, one-stop shops for everyday needs. In addition, the stores feature seasonal items for every major holiday, as well as a wide assortment of merchandise for the home, including furniture, home d'cor, and domestics.

WHOLESALE OPERATIONS

The Company also sells wholesale merchandise which is generally obtained through the same or shared opportunistic purchases of the retail operations. Advertising of wholesale merchandise is conducted primarily at trade shows and by mailings to past and potential customers. Wholesale customers include a wide and varied range of major national and regional retailers, as well as smaller retailers, manufacturers, distributors, and wholesalers.

Wholesale sales are recognized in accordance with the shipping terms agreed upon on the purchase order. Wholesale sales are predominantly recognized under FOB origin where title and risk of loss pass to the buyer when the merchandise leaves the Company's distribution facility. However, when the shipping terms are FOB destination, recognition of sales revenue is delayed until completion of delivery to the designated location.

PURCHASING

An integral part of the Company's business is the sourcing and purchasing of quality brand-name merchandise directly from manufacturers and other vendors typically at prices substantially below those paid by traditional retailers. The Company believes that it has built strong relationships with many brand-name manufacturers and has capitalized on its purchasing power in the closeout marketplace to source merchandise that provides exceptional value to customers. The Company has the ability to source and purchase significant quantities of a manufacturer's closeout merchandise in specific product categories and to control distribution in accordance with vendor instructions, thus providing a high level of service and convenience to these manufacturers. The Company supplements its traditional brand-name closeout purchases with various direct import and domestically sourced merchandise such as furniture, home d'cor, and seasonal items. The Company expects its purchasing power will continue to enhance its ability to source quality closeout merchandise for all of its stores at competitive prices.

COMPETITIVE CONDITIONS

All aspects of the retailing industry are highly competitive. The Company competes with discount stores (such as Wal-Mart' and Target'), dollar stores, deep discount drugstore chains, and other value-oriented specialty retailers.



   Company Address: 2020 Robert-Bourassa Blvd. Montreal Québec 0
   Company Phone Number: 397-2592   Stock Exchange / Ticker: NYSE BGI
   BGI is expected to report next financial results on June 21, 2024.


   

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Birks Group Inc

Birks Group Inc Suffers Substantial Setback with Double-Digit Revenue Dip and Earnings Shortfall


Introduction:
Birks Group Inc, a specialty retail company, recently released its financial results for the interval between January and March 25, 2023. The figures reveal a substantial decline in revenue, accompanied by a net loss. These disappointing results reflect challenges faced by the company during this reporting period. Additionally, Birks Group Inc. shares have experienced a decline, contributing to poor year-to-date performance. This article delves into the financial facts and provides context to interpret the significance of these numbers.
Financial Results and Analysis:
During the January to March 25, 2023 interval, Birks Group Inc experienced a shortfall per stock of $-0.40 per share, a significant decline compared to $0.07 per share a year ago and $0.00 per share in the previous financial reporting period. This suggests a concerning trend of decreasing profitability. The revenue also witnessed a double-digit decline, receding by -10.142% to $162.95 million, compared to $181.34 million in the corresponding financial reporting period a year ago. Sequentially, the revenue dropped from $0.00 million, indicating a decline in business activity.






 

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