MONTREAL–(BUSINESS WIRE)–Jan 14, 2021–
Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), today appear its sales after-effects for the acting anniversary sales aeon from November 1, 2020 through December 26, 2020 (the “FY2021 Anniversary Period”).
For the FY2021 Anniversary Period, net sales were 0.2% lower than aftermost year, primarily due to a 1.8% abatement in commensurable abundance sales, apprenticed by acting abundance closures due to COVID-19 restrictions in assertive regions in Canada. As a aftereffect of assorted bigoted bloom restrictions, seven of the Company’s 29 retail locations, including its flagship Bloor Street abundance in Toronto, were briefly bankrupt for in-person arcade for the majority of the anniversary season. When excluding the seven food that were briefly bankrupt for in-person arcade during the FY2021 Anniversary Period, commensurable food sales added by 6.8%. Furthermore, e-commerce sales added by 176.0% during the FY2021 Anniversary Period. See beneath beneath “Comparable Abundance Sales” for a analogue of this achievement measure.
Mr. Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: “Despite the COVID-19 communicable and its abrogating impact, we accept delivered acceptable anniversary results, highlighting our adeptness to acclimate to arising trends to bigger serve our clients, such as through our growing e-commerce business and our babysitter service. We are absolute appreciative of the after-effects accomplished and absolutely acknowledge the contributions of our administration aggregation and employees, whose dedication, professionalism and adeptness to acclimate has accustomed the Company to auspiciously cross through these ambiguous times.”
Mr. Bédos added commented: “While some of our boutiques abide to be briefly bankrupt for in-store shopping, there are still a cardinal of means for audience to admission Maison Birks’ animated applicant service. Through our Babysitter Service, basic accessories and e-commerce, we are accessible for our audience and able to advice them boutique cautiously during this time. MaisonBirks.com is the #1 e-commerce destination in Canada for affluence watches and jewellery. We abide committed to, and afresh invested in abstruse accessories for the purpose of alms the accomplished accessible affection in abundant video arcade to our clients.”
In accordance with accepted bigoted restrictions to abode the “second wave” of the COVID-19 pandemic, 16 of the Company’s food in Quebec and Ontario, including its flagship food in Montreal and Toronto, and its Winnipeg abundance in Manitoba, accept been briefly bankrupt for in-person arcade (Quebec until at atomic February 8, 2021 and Ontario until at atomic February 9, 2021). The Company’s absolute 13 food in British Columbia, Alberta and Saskatchewan abide accessible for in-store shopping. Audience can accomplish arrange for curbside auto through Maison Birks’ Babysitter Account by buzz at 1 (855) 873-7373 and email at [email protected] Select boutiques are additionally alms basic appointments, area audience can accept animated account through video chat. Basic accessories can be appointed online at https://www.maisonbirks.com/en/virtual-appointment.
Clients can abide to boutique online 24/7 at MaisonBirks.com and account from adulatory aircraft beyond Canada.
Comparable Abundance Sales
We use commensurable abundance sales as a key achievement admeasurement for our business. Commensurable abundance sales accommodate food accessible in the aforementioned aeon in both the accepted and above-mentioned period. We accommodate e-commerce sales in our commensurable abundance sales calculations. Food access the commensurable abundance adding in their thirteenth abounding ages of operation beneath our ownership. Food that accept been resized or relocated are evaluated on a case-by-case base to actuate if they are functionally the aforementioned abundance or a new abundance and again are included or afar from commensurable abundance sales, accordingly. Commensurable abundance sales admeasurement the allotment change in net sales for commensurable food in a aeon compared to the agnate aeon in the antecedent year. If a commensurable abundance is not accessible for the absoluteness of both periods, commensurable abundance sales admeasurement the change in net sales for the allocation of time that such abundance was accessible in both periods. We accept that this admeasurement provides allusive advice on our achievement and operating results. However, readers should apperceive that this banking admeasurement has no connected acceptation and may not be commensurable to agnate measures presented by added companies.
About Birks Group Inc.
Birks Group is a arch artist of accomplished jewellery, timepieces and adeptness and abettor of affluence jewellery food in Canada. The Company operates 29 stores, of which 26 food accomplish beneath the Maison Birks cast in best above city markets in Canada, one retail area in Calgary beneath the Brinkhaus brand, one retail area in Vancouver operated beneath the Graff cast and one area in Vancouver beneath the Patek Philippe brand. Bijoux Birks accomplished jewellery collections are additionally accessible through Mappin & Webb and Goldsmiths locations in the United Kingdom in accession to several jewellery retailers beyond North America. Birks was founded in 1879 and has become Canada’s arch banker and artist of accomplished jewellery, timepieces and gifts. Additional advice can be begin on Birks’ web site, www.birks.com.
Forward Attractive Statements
This columnist absolution contains assertive “forward-looking” statements which can be articular by their use of words like “plans,” “expects,” “believes,” “will,” “anticipates,” “intends,” “projects,” “estimates,” “could,” “would,” “may,” “planned,” “goal,” and added words of agnate meaning. All statements that abode expectations, possibilities or projections about the future, including afterwards limitation, statements about our strategies for growth, amplification plans, sources or capability of capital, expenditures, abundance closings and openings, commensurable abundance sales, and banking after-effects are advanced statements.
Because such statements accommodate assorted risks and uncertainties, absolute after-effects adeptness alter materially from those projected in the advanced statements and no affirmation can be accustomed that the Company will accommodated the after-effects projected in the advanced attractive statements. These risks and uncertainties include, but are not bound to the following: (i) the consequence and breadth of bread-and-butter disruption as a aftereffect of the common COVID-19 outbreak, including its appulse on (a) macroeconomic conditions, generally, (b) the after-effects of operations and banking action of the Company, (c) the Company’s acquirement as a aftereffect of abundance closures and accompanying measures to abate the banking appulse of these closures, including abbreviation operating costs and extending acquittal agreement with assorted stakeholders, (d) basic investments in technology, and (e) the trading amount of its shares; (ii) economic, political and bazaar conditions, including the economies of Canada and the U.S., which could abnormally affect the Company’s business, operating after-effects or banking condition, including its acquirement and profitability, through the appulse of changes in the absolute acreage markets, changes in the disinterestedness markets and decreases in chump aplomb and the accompanying changes in chump spending patterns, the appulse on abundance traffic, tourism and sales; (iii) the appulse of fluctuations in adopted barter rates, increases in article prices and borrowing costs and their accompanying appulse on the Company’s costs and expenses; (iv) changes in absorption rates; (v) the Company’s adeptness to advance and access acceptable sources of clamminess to armamentarium its operations, to accomplish planned sales, gross allowance and net income, to accumulate costs low, to apparatus its business strategy, advance relationships with its primary vendors, to abate fluctuations in the availability and prices of the Company’s merchandise, to attempt with added jewelers, to accomplish in its business initiatives, and to accept a acknowledged chump account program; (vi) the Company’s adeptness to abide to borrow beneath its acclaim facilities, (vii) the Company’s adeptness to advance assisting operations, as able-bodied as advance defined balance availability levels beneath its acclaim facilities, accomplish appointed payments of arch and interest, and armamentarium basic expenditures; (viii) the Company’s banking performance; (ix) the Company’s adeptness to assassinate its cardinal vision; (x) the Company’s adeptness to abide as a activity concern; and (xi) the Company’s adeptness to accomplish acquiescence with the NYSE American’s connected advertisement standards aural the appropriate time frame. Advice apropos factors that could account absolute after-effects to alter materially is set alternating beneath the captions “Risk Factors” and “Operating and Banking Review and Prospects” and abroad in the Company’s Annual Report on Form 20-F filed with the Securities and Barter Commission on July 8, 2020 and consecutive filings with the Securities and Barter Commission. The Company undertakes no obligation to amend or absolution any revisions to these advanced statements to reflect contest or affairs afterwards the date of this account or to reflect the accident of hasty events, except as appropriate by law.
View antecedent adaptation on businesswire.com:https://www.businesswire.com/news/home/20210114006043/en/
CONTACT: Company Contacts:Katia Fontana
Vice President and Chief Banking Officer
(514) 397-2592For all columnist and media inquiries, amuse contact:OverCat CommunicationsAudrey Hyams Romoff,[email protected],
(647) 223-9970Gillian DiCesare,[email protected],
(647) 223-5590Chelsea Brooks,[email protected],
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: MEN OTHER RETAIL LUXURY DEPARTMENT STORES SPECIALTY CONSUMER FASHION OTHER MANUFACTURING RETAIL OTHER CONSUMER WOMEN MANUFACTURING
SOURCE: Birks Group Inc.
Copyright Business Wire 2021.
PUB: 01/14/2021 06:00 PM/DISC: 01/14/2021 06:00 PM
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