© Reuters.
MONTREAL – Birks Group Inc. (NYSE American: BGI), a Canadian luxury jewelry retailer, has announced an 8.1% increase in net sales for the eight-week holiday period ending December 30, 2023, compared to the same timeframe in the previous fiscal year. The company also reported a 3% rise in comparable store sales during the same period.
The sales growth is primarily attributed to the strong performance of third-party branded watches and the success of recently renovated stores in Chinook (NASDAQ:) and Laval. Additionally, e-commerce sales continued to expand, contributing to the overall positive results. Birks Group highlighted that the increase in comparable store sales was driven by both branded watches and Birks Fine Jewellery.
Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, credited the sales teams for their exceptional results during the holiday season. He emphasized the company’s commitment to customer service and growth in the high-end luxury watch and jewelry market in Canada. Bédos expressed gratitude towards employees for their perseverance and dedication.
Birks Group uses comparable store sales as a significant performance metric, which includes e-commerce sales and considers stores that have been open in the same period for both the current and prior year. The measurement excludes stores that have not been operational for the entirety of both periods or those that have been resized or relocated, depending on whether they are functionally the same or new.
The company operates 21 stores under the Maison Birks brand across major Canadian metropolitan areas and additional locations under various luxury brands. Birks Group’s fine jewelry collections are also available through select retailers in Canada, the United States, the United Kingdom, and Poland.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
