Welcome to our dedicated page for Global Blue Group Holding news (Ticker: GB), a resource for investors and traders seeking the latest updates and insights on Global Blue Group Holding stock.
Global Blue Group Holding AG (symbol: GB) is a leading provider of Tax Free Shopping and payment solutions, catering to international travelers and retailers worldwide. The company facilitates millions of tax-free purchases every year, allowing tourists to reclaim VAT on eligible goods bought during their travels. In addition to tax refunds, Global Blue offers Currency Choice, a service that enables travelers to pay in their home currency, enhancing financial control and security.
Global Blue integrates its services seamlessly at points of sale through state-of-the-art technology, ensuring a smooth and efficient shopping experience. The company's mission is to become the go-to brand for all aspects related to international shopping, striving to build trust and recognition among shoppers and merchants alike.
With operations in over 50 countries, Global Blue connects a vast network of retailers, acquirers, and hotels to nearly 80 million consumers across three main industries: Tax Free Shopping, Payments, and Post-Purchase Solutions. These services streamline the shopping and payment journey for tourists, providing added value to all stakeholders involved.
Global Blue's extensive marketing efforts help communicate the brand's value proposition to potential customers even before they start their journey. The company aims to represent retailers globally while guiding shoppers through a seamless international shopping experience. Whether in Buenos Aires or Singapore, Global Blue is dedicated to enhancing the shopping experience for international travelers.
In recent years, Global Blue has focused on expanding its service offerings and technological capabilities to better serve its clients. The company's commitment to innovation and customer satisfaction has solidified its position as a leader in the industry.
Global Blue reports a 17% year-on-year growth in Tax Free Shopping for October 2024. Continental Europe saw a 12% increase in issued Sales in Store, driven by a 14% rise in shopper numbers, despite a 2% decrease in average spend. GCC shoppers led with 29% growth, followed by Mainland Chinese at 15%. In Asia Pacific, sales grew 29%, with a 32% increase in shoppers but a 2% decrease in average spend. Mainland Chinese spending in Asia Pacific surged 50%, while destination markets showed strong performance: South Korea (+42%), Japan (+32%), and Singapore (+16%).
Global Blue Group Holding AG (NYSE: GB and GB.WS) has announced the release date for its Q2 and H1 FY2024/25 financial results. The company will publish its report on November 22, 2024, before the market opens. The financial disclosure will include:
- Management's Discussion and Analysis of the Financial Position and Results of Operations
- Consolidated Financial Statements and Notes
- Press release and investor presentation
- Audio commentary on results by CEO Jacques Stern and CFO Roxane Dufour
The materials will cover the fiscal period ended September 30, 2024, and will be accessible through the Investor Relations section of Global Blue's website.
Global Blue's September 2024 Tax Free Shopping update shows positive growth worldwide. Continental Europe saw an 11% increase in issued Sales in Store, driven by a 14% rise in shoppers, despite a slight 2% decrease in average spend. US and GCC shoppers led with 13% growth, followed by Mainland Chinese at 11%. Spain (+24%) and Italy (+17%) performed well, while France showed moderate growth (+7%).
Asia Pacific experienced 19% growth, with a 29% increase in shoppers but an 8% decrease in average spend. This marks a slowdown from the previous three months' 63% growth, partly due to the strengthening Yen. Mainland Chinese spending led with 30% growth, boosted by a 75% increase in shoppers. South Korea (+45%) and Japan (+23%) showed strong performance, while Singapore declined slightly (-2%).
Global Blue's August 2024 Tax Free Shopping update shows strong worldwide growth, with issued Sales in Store up 17% year-on-year. Continental Europe saw a 10% increase, driven by an 8% rise in shoppers and 2% higher average spend. Mainland Chinese Tax Free Spend led with 25% growth. The US market benefited from the Olympic Games (+18%), while GCC shoppers declined slightly (-1%).
Asia Pacific maintained robust growth at 37%, led by a 38% increase in shoppers. However, this marks a slowdown from the previous three-month average of 94% due to a higher comparison base and the strengthening Yen. Japan (+50%), South Korea (+43%), and Singapore (+4%) all showed positive performance. Globally, the recovery rate compared to 2019 reached 138%, with Japan leading at 282%.
Global Blue Group Holding AG (NYSE:GB) reported strong Q1 FY24/25 financial results, with 25% YoY revenue growth to €118m and a 55% increase in Adjusted EBITDA to €43m. The company saw a 7ppt improvement in Adjusted EBITDA margin to 36.5%. July's Tax Free Shopping Sales-in-Store YoY growth of 25% confirmed positive Q1 trends. Global Blue reaffirmed its FY24/25 Adjusted EBITDA guidance of >€200m. The company also announced a $10 million share repurchase program valid for 6 months, reflecting strong operational improvement and free cash flow generation. The net leverage ratio improved to 3.4x at end June 2024 from 5.7x at end June 2023.
Global Blue Group Holding AG (NYSE:GB) has announced its Annual General Meeting (AGM) for September 12, 2024, at 08:30 CEST. The event will take place at the Mandarin Oriental Savoy Hotel in Zurich, Switzerland. Preparatory documents for the AGM are available on the company's website under the 'Investor Relations' section. Additionally, the invitation to the AGM and the Proxy Card have been filed as Exhibits 99.1 and 99.2 respectively to Global Blue's Report on Form 6-K, dated August 19, 2024.
Global Blue's July 2024 Tax Free Shopping update shows continued positive growth across Continental Europe and Asia Pacific. Worldwide issued Sales in Store like-for-like year-on-year performance reached +25% in July 2024, compared to +41% in Q2 2024. Continental Europe saw a +12% growth, led by a 10% increase in shoppers and 2% in average spend. Asia Pacific maintained strong growth at +64%, driven by a 49% increase in shoppers and 10% in average spend.
Key highlights include:
- Mainland Chinese Tax Free Spend led growth in both regions
- US and GCC shoppers showed positive growth in Europe
- Spain (+25%) and Italy (+19%) performed well in Europe
- Japan (+103%) and South Korea (+44%) excelled in Asia Pacific
- France (-2%) faced challenges due to pre-Olympic Games preparations
Global Blue Group Holding AG (NYSE: GB and GB.WS) has announced the release date for its Q1 FY2024/25 financial results. The company will publish its report on August 28, 2024, before the market opens. The financial disclosure will include:
- Management's Discussion and Analysis of Financial Position and Results of Operations
- Consolidated Financial Statements and Notes
- Press release and investor presentation
- Audio commentary on results by CEO Jacques Stern and CFO Roxane Dufour
All materials will be accessible through the Investor Relations section of Global Blue's website.
Global Blue reported an accelerating recovery in Tax Free Shopping across Continental Europe and Asia Pacific in June 2024.
Globally, the issued Sales in Store (SIS) like-for-like recovery reached 168% compared to the same period in 2019, up from 163% in April/May 2024 and 140% in Q1 2024. Continental Europe saw a slight improvement, with a recovery rate of 147% in June 2024, driven by strong performances in France (164%), Spain (160%), and Italy (163%).
GCC shoppers had a significant impact, achieving a recovery rate of 335%, while US shoppers reached 317%. In Asia Pacific, the recovery rate was 236%, led by travelers from Hong Kong and Taiwan at 764%. Mainland Chinese shoppers showed a recovery rate of 122%, stable from April/May.
Year-on-year growth in Tax Free Shopping was also impressive, with global SIS growth at 32% in June 2024. Continental Europe showed a 14% increase, while Asia Pacific recorded a 92% rise, driven by Mainland Chinese (161%), North East Asia (122%), and Hong Kong and Taiwan (66%).
Global Blue reported an accelerated recovery for Tax Free Shopping in May 2024 compared to 2019 levels. The global recovery rate reached 172%, up from 153% in April and 140% in Q1. Mainland Chinese shoppers drove significant growth, especially in Japan, which saw a 258% recovery rate due to favorable FX rates. Continental Europe achieved a 145% recovery, boosted by France (170%), Spain (169%), and Italy (164%). Asia Pacific recorded a 250% recovery rate, led by Japan (360%). Year-on-year growth for May 2024 was 47%, with Mainland Chinese shoppers showing a 164% increase. US and GCC shoppers also contributed to strong growth.
FAQ
What is the current stock price of Global Blue Group Holding (GB)?
What is the market cap of Global Blue Group Holding (GB)?
What does Global Blue Group Holding AG do?
How does Global Blue's Tax Free Shopping work?
What is Currency Choice?
In how many countries does Global Blue operate?
What industries does Global Blue serve?
How does Global Blue integrate its services?
What is Global Blue's mission?
Who are the primary stakeholders of Global Blue?
How does Global Blue support its clients?
What recent achievements has Global Blue made?
