Article content material
MONTREAL — Birks Group Inc. (the “Firm” or “Birks Group”) (NYSE American: BGI), reported its gross sales outcomes for the 8 week interim gross sales interval ended December 30th, 2023 (the “FY2024 Vacation Interval”) leading to a rise of 8.1% in web gross sales as in comparison with the identical interval in FY2023. Comparable retailer gross sales for the FY2024 Vacation Interval elevated by 3.0% as in comparison with the identical interval in FY2023.
The 8.1% enhance in web gross sales for the FY2024 Vacation Interval, as in comparison with the identical interval in FY2023, was pushed primarily by a robust gross sales efficiency within the retail sector the place third-party branded watches outperformed the gross sales in the course of the comparable interval in FY2023, the higher efficiency of our Chinook and Laval shops which had been renovated in FY2023, and e-commerce gross sales development. The three.0% enhance in comparable retailer gross sales within the FY2024 Vacation Interval versus the identical interval in FY2023, was primarily attributable to the efficiency of each branded watches and Birks Wonderful Jewelry.
Article content material
Mr. Jean-Christophe Bédos, President and Chief Govt Officer of Birks Group, commented: “Our gross sales groups have delivered outstanding outcomes this vacation interval, together with vital gross sales development over final 12 months. This vital achievement is a testomony not solely to our dedication and dedication to our clients, but in addition to the continued implementation of our strategic plan. We stay centered on delivering excellence in customer support, rising our gross sales within the high-end luxurious watch and jewelry market in Canada, and constructing on the success of our Birks product model. I’m happy with our Vacation Gross sales outcomes and wish to sincerely thank all our workers for his or her continued perseverance and dedication.”
Comparable Retailer Gross sales
We use comparable retailer gross sales as a key efficiency measure for our enterprise. Comparable retailer gross sales embrace shops open in the identical interval in each the present and prior interval. We embrace e-commerce gross sales in our comparable retailer gross sales calculations. Shops enter the comparable retailer calculation of their thirteenth full month of operation below our possession. Shops which were resized or relocated are evaluated on a case-by-case foundation to find out if they’re functionally the identical retailer or a brand new retailer after which are included or excluded from comparable retailer gross sales, accordingly. Comparable retailer gross sales measure the proportion change in web gross sales for comparable shops in a interval in comparison with the corresponding interval within the earlier 12 months. If a comparable retailer is just not open for the whole thing of each intervals, comparable retailer gross sales measure the change in web gross sales for the portion of time that such retailer was open in each intervals. We consider that this measure offers significant data on our efficiency and working outcomes. Nonetheless, readers ought to know that this monetary measure has no standardized that means and might not be corresponding to comparable measures offered by different firms.
About Birks Group Inc.
Birks Group is a number one designer of wonderful jewelry, and operator of luxurious jewelry, timepieces and presents retail shops in Canada. The Firm operates 21 shops below the Maison Birks model in most main metropolitan markets in Canada, one retail location in Calgary below the Brinkhaus model, one retail location in Vancouver operated below the Graff model, one retail location in Vancouver below the Patek Philippe model, and one retail location in Laval below the Breitling model. Birks model wonderful jewelry collections are additionally out there by way of choose SAKS Fifth Avenue shops in Canada and the U.S., choose Mappin & Webb and Goldsmiths areas in the UK, in Mayors shops in america, in W. Kruk shops in Poland in addition to a number of jewelry retailers throughout North America. Birks was based in 1879 and has develop into Canada’s premier retailer and designer of wonderful jewelry, timepieces and presents. Extra data might be discovered on Birks’ website, www.birks.com.
Article content material
Ahead Trying Statements
This press launch comprises forward- wanting statements which might be recognized by their use of phrases like “plans,” “expects,” “believes,” “will,” “anticipates,” “intends,” “tasks,” “estimates,” “might,” “would,” “could,” “deliberate,” “purpose,” “proceed,” “technique,” “focus” and different phrases of comparable that means. All statements that tackle expectations, prospects or projections concerning the future are forward-looking statements, together with with out limitation, statements about anticipated financial situations, and our methods for development, efficiency drivers, enlargement plans, sources or adequacy of capital, expenditures and monetary outcomes, , in addition to statements concerning our continued give attention to delivering excellence in customer support, rising our gross sales within the high-end luxurious watch and jewelry market in Canada, and constructing on the success of our Birks product model.
As a result of such statements embrace varied dangers and uncertainties, precise outcomes would possibly differ materially from these projected within the forward- wanting statements and no assurance might be on condition that the Firm will meet the outcomes projected within the forward-looking statements. These dangers and uncertainties embrace, however should not restricted to the next: (i) a decline in client spending or deterioration in client monetary place; (ii) financial, political and market situations, together with the economies of Canada and the U.S., which might adversely have an effect on the Firm’s enterprise, working outcomes or monetary situation, together with its income and profitability, by way of the impression of adjustments in the true property markets, adjustments within the fairness markets and reduces in client confidence and the associated adjustments in client spending patterns, the impression on retailer site visitors, tourism and gross sales; (iii) the impression of fluctuations in international alternate charges, inflation, will increase in commodity costs and borrowing or working prices, or different pricing atmosphere elements and their associated impression on the Firm’s prices and bills; (iv) adjustments in rates of interest; (v) the Firm’s means to take care of and procure ample sources of liquidity to fund its operations, to attain deliberate gross sales, gross margin and web revenue, to maintain prices low, to implement its enterprise technique, preserve relationships with its major distributors, to mitigate fluctuations within the availability and costs of the Firm’s merchandise, to compete with different jewelers, to reach its advertising initiatives (together with with respect to Birks branded merchandise), and to have a profitable customer support program; (vi) the Firm’s plan to guage the productiveness of current shops, shut unproductive shops and open new shops in prime retail areas, and spend money on its web site and e-commerce platform; (vii) the Firm’s means to proceed to borrow below the Amended Credit score Facility and Amended Time period Mortgage; (viii) the Firm’s means to take care of worthwhile operations, in addition to preserve specified extra availability ranges below the Amended Credit score Facility, make scheduled funds of principal and curiosity, and fund capital expenditures; (ix) the Firm’s means to execute its strategic imaginative and prescient; (x) the geopolitical atmosphere and elevated political uncertainty; (xi) the impression of weather-related incidents, pure disasters, strikes, protests, riots or terrorism, acts of warfare or one other public well being disaster or illness outbreak, epidemic or pandemic on the Firm’s enterprise; and (xii) the Firm’s means to proceed as a going concern.
Article content material
Info regarding elements that would trigger precise outcomes to vary materially is about forth below the captions “Threat Components” and “Working and Monetary Assessment and Prospects” and elsewhere within the Firm’s Annual Report on Kind 20-F filed with the Securities and Alternate Fee on June 23, 2023 and subsequent filings with the Securities and Alternate Fee. The Firm undertakes no obligation to replace or launch any revisions to those forward-looking statements to replicate occasions or circumstances after the date of this assertion or to replicate the incidence of unanticipated occasions, besides as required by regulation.
View supply model on businesswire.com: https://www.businesswire.com/information/residence/20240111608251/en/
Contacts
Firm:
Katia Fontana
Vice President and Chief Monetary Officer
(514) 397-2592
For all press and media inquiries, please contact:
OverCat Communications
Audrey Hyams Romoff, ahr@overcat.com, (647) 223-9970
Chelsea Brooks, cb@overcat.com, (289) 221-6006
#distro
Share this text in your social community