Birks “Disappointed” by Holiday Sales

The Birks Group said it was disappointed with its holiday sales, as comps fell 1 percent. 

The company’s U.S. comps increased 2 percent—led by a gain in the average sale, which offset a decline in store traffic. However, same-store sales at its Canadian division dropped 3 percent. Those retailers also saw a growth in average sale, the company said, but that didn’t make up for drops in traffic caused by unseasonably bad weather.

“We are disappointed in our sales performance during the holiday period,” president and CEO Jean-Christophe Bédos said in a statement. “Much of the significant progress we made over the seven months prior to the holiday period were not able to offset the loss of store traffic experienced in Canada toward the end of the calendar year. We remain confident, however, that continuing forward with our key strategies is an essential element in driving sales and profit growth across all our stores.”

Birks also announced financial results for the third quarter of fiscal 2014: 

  • Total revenues: down 6.8 percent, to $94.5 million
  • Comp store sales: flat
  • U.S. comp store sales: up 2 percent
  • Canadian comp store sales: down 2 percent

JCK News Director