Birks Group Inc Down 0.55% To $5.40 After Earnings

Birks Group Inc (BGI) reported less than expected earnings this afternoon for FY 2023.

Birks Group Inc's earnings came in at an EPS loss of $0.4 per share. The firm's earnings are down 671% since reporting $0.07 per share in the same period a year ago.

Birks Group Inc reported FY 2023 revenue of $163 million. The $163 million (0%) negative revenue surprise led to negative 10% growth year-over-year as the firm reported revenue of $181.3 million in its year-ago quarter. The lower earnings growth compared to revenue points to Birks Group Inc not being able to improve its profit margin.

The stock is down 0.55% to $5.40 after the report.

Birks Group Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 17.

Birks Group Inc is a part of the leisure industry. The company designs, develops, produces, and retails fine jewelry, timepieces, and gifts. Its operating segment includes Retail and Other. The company generates maximum revenue from Retail segment. Its Retail segment consists of retail operations whereby it operates approximately 27 stores in Canada under the Maison Birks brand, one store under the Brinkhaus brand, one store under the Graff brand, and one store under the Patek Phillippe brand. Other segment consists primarily of wholesale business, e-commerce business, and gold exchange business.