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 news covers a specialty payments and technology platform for retail shopping services, including Tax Free Shopping, dynamic currency conversion, payments solutions, and post-purchase services. Company updates historically addressed retailer, acquirer, hotel, and consumer-facing services across multiple countries, along with operating and financial results.
Recent developments also document Global Blue's completed squeeze-out merger under Swiss law, the cancellation of remaining shares for cash consideration, and the voluntary delisting of its ordinary shares from the New York Stock Exchange. Related news themes include shareholder voting matters, capital-structure changes, warrant delisting proceedings, governance actions, and material agreements tied to the company's transition from a listed issuer.
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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.