BGI Stock: The Post-Pandemic News That Has Luxury Canadian Retailer Birks Group Blasting Higher

Shares of Birks Group (NYSEAMERICAN:BGI) stock are taking off on Thursday after the company announced promising news in regards to its return from the novel coronavirus pandemic.

A jewelry display inside of a story

Source: Shutterstock

The firm announced that all 29 of its 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.” Birks Group also said that it reopened its nine stores in malls located in Ontario for in-person shopping on Wednesday.

This is a big move, as the company’s stores closed on two separate occasions in the past year and a half. And now, due to required health restrictions, these stores are now operating at 25% capacity.

Overall, this is great news for post-pandemic life. But with the jewelry business being very competitive, some investors may not know much about Birks Group. However, we have you covered.

Collectively, the company is “a leading designer of fine jewelry, timepieces and gifts” based in Montreal, Canada. Founded back in 1879 with a single boutique, Birks Group has grown and now has stores in Canada as well as wholesale customers in the U.S. and U.K. Some of the products the company possesses includes necklaces, earrings, rings and bracelets in various shapes and designs.

BGI stock was up 31% as of Thursday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Nick Clarkson is a web editor at InvestorPlace.


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