Birks’ Comps Rose 3 Percent

Birks Group’s comp sales rose 3 percent in the first half of the year (ended Sept. 26).

In local currency, Canadian comps rose 10 percent, but U.S. sales fell 3 percent, because of decreased tourist business due to the strong U.S. dollar. “The domestic business remains strong,” a statement said.

First-half net sales were $134 million, down $5.7 million from last year. The company attributes that to the unfavorable foreign exchange rates. Removing the $10.2 million adjustment translating Canadian sales into U.S. dollars, the company’s sales rose $4.5 million.

First-half net income totaled $0.8 million, compared to a net $4 million loss last year.

JCK News Director