Birks Groups Inc. (NYSE: BGI) stock rallies, here is the reason why? – Marketing Sentinel
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Birks Groups Inc. (NYSE: BGI) stock rallies, here is the reason why?

Today on July 1st, 2021, Birks Group Inc. (BGI) stock rallied during the pre-market hours gaining 39.15%, at the stock price of $3.27, compared to previous market close at $2.35.

During the late hours yesterday, Birks Groups, a jewelry designer company, skyrocketed its stock by publishing a news of re-opening all nine of its retail store in Ontario, Canada. The company has announced this news in accordance with the directives provided by local government and health officials. Previously the company stores have been temporarily closed for a 15-week period from November, 2020 to March 2021, as a result of restrictions provided by Ontario government for non-essential retail stores. However, now that the stores will be open for in-store services, they will be operating currently at twenty-five percent of their capacity.


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Additionally, for those clients who would like to continues availing online services, the shop will be open 24/7 for clients to avail elevated services.

More about Birks Group Inc.

Birks Group is a leading designer store for jewelry, timepieces and gifts, in Canada. As of now Birks operates, twenty-nine retail stores. Twenty-six of them are operated under Masio Birks brands in most of the major metropolitan markets. The company also has retailer in United Kingdom and across North America. During mid of the last month, June, 2021 Birks published their financial statement for fiscal year 2021, where it declared a rise 130 bps in gross profit as a percentage of sales, compared to the previous fiscal year.

Conclusion

BGI shares has been very rewarding for their stockholders from past sometime, especially since the past year, 2020. The savvy investors who held BGU stock for five years are estimated to have gained 939 percent; the investors who held the stock for the last year are estimated to have gained 796 percent; and the investors who held it for the last three months would have gained 353%.For both long-term and short-term holding positions, these are substantial gains. Given the stock price momentum upholds, the stock performance appears to have improved.

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