Birks Group Reports C$87.8M Revenue, GAAP EPS of -C$0.08
December 3, 2023
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Birks Group ($NYSEAM:BGI), a leading luxury jewelry and timepiece retailer, has recently reported a revenue of C$87.8M and GAAP earnings per share of -C$0.08. Birks Group operates several luxury jewelry stores across North America in locations such as Montreal, Toronto, Vancouver, Calgary, and New York City. The company offers a wide range of products including watches, diamonds, gemstones, and fine jewelry.
Additionally, Birks Group provides customers with expert advice and custom design services. Despite this, the company has managed to stay afloat and continues to provide quality products and services to its customers.
Earnings
In the earning report of FY2024 Q2 ending September 30 2021, BIRKS GROUP reported total revenue of C$87.8M, a 5.7% increase from C$84.62M in the year-ago period. This marks the third year in a row that BIRKS GROUP has seen an increase in total revenue, from C$84.62M to C$87.82M over this period. Despite the increased revenue, the company has seen a decrease in net income of 149.5%. This shows that while the company is still able to generate revenue, it is having difficulty turning a profit.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Birks Group. More…
| Total Revenues | Net Income | Net Margin |
| 170.73 | -6.92 | -4.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Birks Group. More…
| Operations | Investing | Financing |
| -1.68 | -8.82 | 10.92 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Birks Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 197.3 | 199.33 | -0.11 |
Key Ratios Snapshot
Some of the financial key ratios for Birks Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.6% | 43.7% | -1.5% |
| FCF Margin | ROE | ROA |
| -6.2% | 125.3% | -0.8% |
Market Price
Following the announcement, Birks Group‘s stock opened at $3.7 and closed at the same level, down by 2.8% from its prior closing price of $3.8. Live Quote…
Analysis
As a GoodWhale analyst, I have studied the fundamentals of BIRKS GROUP. According to the Star Chart, BIRKS GROUP is strong in asset, medium in profitability and weak in dividend and growth. Its health score is 2/10, which indicates that the company is less likely to be able to pay off debt and fund future operations. We classified BIRKS GROUP as an ‘elephant’, a company that is rich in assets after deducting off liabilities. Investors who are looking for companies that are strong in asset, medium in profitability and weak in dividend and growth will find BIRKS GROUP an attractive investment option. More…
Peers
The competition between Birks Group Inc and its competitors TOM TAILOR Holding SE, Izumi Co Ltd and Sovereign Diamonds Ltd is fierce. All of these companies are striving to provide their customers with the best products and prices in order to gain market share. Each of these businesses has their own unique strategies to stay ahead in the highly competitive jewelry and diamond market, making it difficult for any single company to dominate the industry.
– TOM TAILOR Holding SE ($LTS:0MMJ)
TOM TAILOR Holding SE is a fashion retailer based in Germany that specializes in apparel, accessories and footwear for men, women and children. The company has a market capitalization of 5M as of 2022, reflecting its size and influence in the industry. Its Return on Equity (ROE) is -507.22%, which is a negative sign that suggests that the company has been generating losses on its investments. This could be a result of weak sales or higher costs related to operations, both of which could have a negative impact on their overall profitability. Despite the low ROE, TOM TAILOR Holding SE has been able to maintain its presence in the fashion retail industry and remains a competitive player.
– Izumi Co Ltd ($TSE:8273)
Izumi Co Ltd is a Japanese-based company in the automotive industry. The company is renowned for its production of high-quality vehicles that are sold around the world. As of 2022, the company has a market cap of 213.58B, indicating its strong financial position in the industry. Additionally, Izumi Co Ltd has a Return on Equity (ROE) of 8.63%, which is higher than the industry average. This suggests that the company is efficiently utilizing its equity to generate profits.
– Sovereign Diamonds Ltd ($BSE:523826)
Sovereign Diamonds Ltd is a company that specializes in the production, refinement and distribution of diamonds. As of 2022, the company has a market cap of 115.47M and a Return on Equity of 13.68%. The market cap is an indicator of the company’s overall size and financial standing, while the Return on Equity reflects the profitability of the company as it measures how much of its income is generated as profit compared to its total assets. Sovereign Diamonds Ltd has a healthy market cap and ROE, which suggests that it is well-positioned to take advantage of the growth opportunities in the diamond market.
Summary
Birks Group is a Canadian jewelry company traded on the Toronto Stock Exchange. From an investing perspective, Birks Group has seen a decline in earnings and a decrease in revenue since earlier in the year. It is possible that the company could experience significant volatility in the short-term. Investors should exercise caution and do their own independent research before making any investment decisions.
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