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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 Group Holding AG (NYSE: GB) will present at the CJS Securities 23rd Annual New Ideas for the New Year Conference today.
New data from Global Blue reveals a robust recovery in Tax Free Shopping across Asia Pacific and a steady return to 2019 levels in Continental Europe. In November, issued Sales in Store like-for-like in Continental Europe hit 102%, led by US nationals and Gulf Cooperation Council citizens, while Asia Pacific saw an 81% recovery due to lifted sanitary measures in Japan and South Korea. Notably, US nationals demonstrated a remarkable recovery at 248%. Portugal (163%) and France (123%) led the recovery across European destinations.
Global Blue's latest data indicates a robust recovery in Tax Free Shopping across Asia Pacific and Continental Europe. In October, Continental Europe showed a recovery of 102% compared to 2019, while Asia Pacific reached 68%. Significant contributions came from US nationals and Gulf Cooperation Council citizens, with recoveries of 262% and 256%, respectively. Destination markets like Portugal, Greece, and France have shown strong growth, despite the absence of Chinese tourists. Improved travel conditions in Japan and South Korea are accelerating regional recovery.
Global Blue Group Holding AG (NYSE: GB) is set to release its financial results for Q2 and the half-year period ending
New data from Global Blue indicates a strong recovery in Tax Free Shopping, particularly in Continental Europe and Asia Pacific. In September 2022, recovery in Continental Europe reached 108% compared to 2019, driven by US and Gulf Cooperation Council customers with recoveries of 253% and 247%, respectively. In contrast, recovery for Chinese nationals remains low at 11%. Meanwhile, Asia Pacific's recovery stabilized at 51%. Upcoming easing of travel restrictions in Japan and South Korea is expected to further boost recovery.
Global Blue (NYSE:GB) has acquired a majority stake in Shipup, a leader in post-purchase technology for e-commerce, set to close by the end of October 2022. This strategic move enhances Global Blue's ecosystem, enabling retailers to improve customer satisfaction and reduce service complaints, with Shipup's solutions reportedly increasing customer satisfaction by up to 140% and repeat purchases by about 19%. Shipup serves over 370 brands globally, marking a significant expansion in Global Blue's RetailTech offerings.
Global Blue Group Holding AG (NYSE: GB) will announce its first fiscal quarter results for the period ending June 30, 2022, on September 2, 2022, before market opening. The announcement will include Management's Discussion and Analysis 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 materials will be accessible on the Investor Relations section of the company's website.
Global Blue Group Holding AG (NYSE:GB) will conduct its Annual General Meeting (AGM) on September 1, 2022, at 11:00 CEST in Zurich, Switzerland. Preparatory documents for the AGM are available on their website. Global Blue has been a pioneer in Tax Free Shopping for 40 years, now becoming a leading partner in technology and payments for retailers. The company efficiently manages 35 million Tax Free Shopping transactions and 31 million payment transactions annually through innovative solutions in Tax Free Shopping, Payments services, and RetailTech.
Global Blue Group Holding AG (NYSE: GB) will announce its financial results for the first fiscal quarter ended June 30, 2022, on September 2, 2022, prior to market opening. The earnings release will feature Management's Discussion and Analysis, unaudited financial statements, and an investor presentation. An audio recording of a commentary by CEO Jacques Stern and CFO Roxane Dufour will be available shortly after. Additionally, Global Blue provides Tax Free Shopping, Payments services, and RetailTech solutions, facilitating millions of transactions annually for retailers and enhancing the customer experience.
Global Blue Group Holding AG (NYSE: GB) has finalized a $225 million investment agreement with CK Opportunities Wolverine S.a.r.l. The funding includes $180 million in Series B preferred shares and $45 million in common shares. The investment aims to support strategic acquisitions in Payment and omnichannel Retail Technology, alongside boosting working capital for its recovering Tax-Free Shopping business post-COVID-19. This move underscores Global Blue's commitment to enhancing its technological and service offerings across various sectors.
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