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Birks Group Announces 2024 Annual Meeting
A difficult Q2 report card for luxury goods: zero revenue growth, price increases and promotions together, with Hermès "holding up the roof".
Bank of America Merrill Lynch stated that the second-quarter weighted average income of the luxury goods industry recorded zero growth, the lowest in fifteen quarters, and also showed trends such as brand polarization, negative growth in hard luxury income, and deteriorating demand in the USA.
Full-line decline! Is the way out for LVMH to "sink"?
Industry indicators show that LVMH's sales growth was lower than expected, and on Wednesday global luxury goods stocks fell. Analysis suggests that while high-end luxury goods manufacturers have far better performance than companies primarily targeting the middle class, in the long run middle-class consumers are still the main customer group for big brands. Some brands have already started quietly lowering prices in hopes of winning back middle-class consumers.
Birks Group | 20-F/A: Registration statement / Annual report / Transition report (Amendment)
Birks Group GAAP EPS of -$0.24, Revenue of $185.3M
Express News | Birks Group FY EPS C$(0.24) Up From C$(0.40) YoY, Sales C$185.28M Up From C$162.95M YoY
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