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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 (NYSE:GB) reported a robust recovery in Tax Free Shopping across Continental Europe and Asia Pacific, with total Issued Sales in Store like-for-like reaching 110% in March 2023, improving from 90% in February and 102% in January. Key drivers include the return of Mainland Chinese shoppers, whose recovery rose to 49% in March compared to 22% in February. Continental Europe saw a recovery of 119%, with top-performing markets like Greece at 176%. Asia Pacific also showed significant growth, recovering to 93% in March from 74% in February. The company expects continued momentum as air capacity from Mainland China gradually increases.
Global Blue reports a robust recovery in Tax Free Shopping, achieving a 90% like-for-like recovery in February 2023 compared to pre-pandemic sales in February 2019. The decline from January's 102% is attributed to fewer Mainland Chinese shoppers. Continental Europe saw a full recovery at 100%, with non-Chinese markets reaching 149%. Strong performance from Gulf Cooperation Council citizens at 286% and US nationals at 284% was also noted. In Asia Pacific, recovery rose to 74%. Meanwhile, Mainland Chinese shopper recovery is gradually improving at 22% in Europe and 27% in Asia Pacific.
New data from Global Blue (NYSE:GB) highlights a robust recovery in Tax Free Shopping across Continental Europe and Asia Pacific. In January 2023, sales in Continental Europe recovered to 106% of pre-pandemic levels, bolstered by a 297% recovery rate from US nationals. Asia Pacific also showed strong performance, reaching 96% recovery, driven by a 385% recovery among Hong Kong and Taiwan nationals. The reopening of China's borders on January 8 has further accelerated the recovery of Chinese shoppers, with recovery rates of 22% in Continental Europe and 38% in Asia Pacific. Limited air capacity remains a challenge, but positive trends are evident.
Global Blue Group Holding AG will hold an Extraordinary General Meeting (EGM) on March 1, 2023, at 11:00 a.m. CET, followed by a Special Meeting for Series A Preferred Shareholders. Shareholder approval is sought for:
- Establishment of a capital band allowing share capital alterations up to CHF 3,142,193.39 until March 1, 2028.
- Replacement of existing authorized capital provisions with a new Article 4d.
Global Blue is a leader in Tax Free Shopping, offering technology and payment solutions to enhance retail performance.
Global Blue Group Holding AG (NYSE: GB) will release its financial results for Q3 and the nine-month period ending December 31, 2022, on February 27, 2023, prior to market opening. The results will include Management's Discussion and Analysis of Financial Position and Operations, along with unaudited Condensed Consolidated Interim Financial Statements and an investor presentation. An audio commentary featuring CEO Jacques Stern and CFO Roxane Dufour will be available. These resources can be accessed through Global Blue's Investor Relations page.
In December 2022, Global Blue reported a strong recovery in Tax Free Shopping, achieving 107% of pre-pandemic levels in Continental Europe and 90% in the Asia Pacific region compared to December 2019. US nationals led the recovery, with a remarkable 244% increase in issued sales. Japan surpassed 2019 levels, and the reopening of China's borders on January 8, 2023, is expected to boost further recovery. Key European countries such as Portugal and Greece exhibited significant growth, achieving recovery rates of 148% and 134%, respectively.
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