Birks Group Inc (NYSEAMERICAN:BGI) is trading flat in the pre-market session on Wednesday. The stock has jumped 35% over the past year.
Market Reaction
As of 7:45, BGI stock is trading up by 49.35% at $3.51 with 19k shares traded hands.
Major Trigger:
Birks Group Provides Business Update: Re-Opens All Ontario Stores
Key Highlights:
- Birks Group provided a business update stating that as of June 30, 2021, all 29 of the Company’s retail stores across Canada are now open for in-person shopping and serving clients in accordance with the directives of local government and public health officials.
- On June 30, 2021, the Company re-opened all nine of its mall stores in Ontario for in-person shopping, in line with the second step of the province’s re-opening plan. The stores were previously closed for in-person shopping (but open for curbside pick-up and concierge services) since April 17, 2021. The stores were also temporarily closed for a 15-week period between November 23, 2020 and March 9, 2021, in accordance with the Ontario government’s directives for non-essential retail stores. As required by provincial health restrictions, the stores are currently operating at 25% capacity.
- Mr. Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: “We are extremely pleased and excited to welcome our clients back into our stores in Ontario following a long closure due to required COVID-19 restrictions. It is a pleasure to have our full retail network available again and to provide our clients with the full scope of our offering and services. As we transition into a gradual re-opening in Ontario, we remain committed to providing our customers with Maison Birks’ elevated client service and luxury experience in a safe environment for all.”
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