Latest news with #Birks
Business Times
20 hours ago
- Business
- Business Times
Jardine C&C reports 23% fall in H1 earnings to US$371 million on unrealised fair value losses
[SINGAPORE] Jardine Cycle & Carriage (JC&C) on Wednesday (Jul 30) reported a 23 per cent decline in earnings to S$371.1 million for the first half of 2025, from S$483.3 million for the same period a year earlier. This was mainly driven by unrealised fair value losses related to noncurrent investments, the group said in a bourse filing. Revenue for H1 2025 inched up 1 per cent to US$10.8 billion, from US$10.7 billion a year earlier. The board has declared an interim dividend of US$0.28 per share, unchanged from H1 2024. The dividend will be paid on Oct 3, 2025. Underlying profit for H1 2025 grew 6 per cent to US$529.1 million, from US$500.1 million a year earlier. This was driven by a US$33 million translation gain on foreign currency corporate loans and higher contributions from the Vietnam business. Contribution to underlying profits from Vietnam came in at US$36 million, up 17 per cent year on year from US$30 million in H1 2024. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This was driven by higher sales in Truong Hai Group (Thaco), as well as JC&C's increased stake in Ree Corporation – to 41.6 per cent from 34.9 per cent previously – and the Vietnamese company's higher earnings from its power-generation business. JC&C's Indonesia business, meanwhile, posted a 9 per cent fall in underlying profit to US$466 million for H1 2025, from US$513 million a year earlier. Lower contributions from Astra due to weaker performances from its new car, mining and coal mining operations were partially offset by improved earnings from financial services, agribusiness and infrastructure. Ben Birks, managing director of JC&C, noted that while the macroeconomic environment 'remains challenging', the group expects its 'businesses in Indonesia and Singapore is expected to remain stable, (and its) Vietnamese businesses are expected to build on the country's economic momentum for the rest of the year'. 'Looking further ahead, we remain focused on our longer-term objective of building a portfolio with strong growth and total shareholder returns,' Birks added. Shares of JC&C fell 0.6 per cent or S$0.17 on Wednesday to close at S$27.35, before the results were announced.
Fashion Network
a day ago
- Business
- Fashion Network
Birks annual sales fall 4%
Canadian jeweler Birks Group saw sales for fiscal 2025 fall 4% to $177.8 million, on the back of a slow performance in the company's retail channel. The Montreal-based company said retail sales were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. The decrease was partially offset by an increase in branded timepiece sales throughout the retail network. Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024, again mainly due to lower third-party branded jewelry sales, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. The company clocked a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces,' said Jean-Christophe Bédos, president and chief executive officer of Birks Group. 'In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results."
Fashion Network
a day ago
- Business
- Fashion Network
Birks annual sales fall 4%
Canadian jeweler Birks Group saw sales for fiscal 2025 fall 4% to $177.8 million, on the back of a slow performance in the company's retail channel. The Montreal-based company said retail sales were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. The decrease was partially offset by an increase in branded timepiece sales throughout the retail network. Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024, again mainly due to lower third-party branded jewelry sales, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. The company clocked a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces,' said Jean-Christophe Bédos, president and chief executive officer of Birks Group. 'In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results."
Fashion Network
a day ago
- Business
- Fashion Network
Birks annual sales fall 4%
Home › News › Business Download Print Canadian jeweler Birks Group saw sales for fiscal 2025 fall 4% to $177.8 million, on the back of a slow performance in the company's retail channel. Birks annual sales fall 4%. - Birks The Montreal-based company said retail sales were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. The decrease was partially offset by an increase in branded timepiece sales throughout the retail network. Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024, again mainly due to lower third-party branded jewelry sales, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. The company clocked a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces,' said Jean-Christophe Bédos, president and chief executive officer of Birks Group. 'In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results." Copyright © 2025 All rights reserved. Tags : Luxury Watches Jewellery Business
Fashion Network
a day ago
- Business
- Fashion Network
Birks annual sales fall 4%
Canadian jeweler Birks Group saw sales for fiscal 2025 fall 4% to $177.8 million, on the back of a slow performance in the company's retail channel. The Montreal-based company said retail sales were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. The decrease was partially offset by an increase in branded timepiece sales throughout the retail network. Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024, again mainly due to lower third-party branded jewelry sales, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. The company clocked a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces,' said Jean-Christophe Bédos, president and chief executive officer of Birks Group. 'In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results."
