Birks & Mayors announced that its comparable store sales increased by 4 percent in fiscal year 2013, which ended March 30.
Comp sales increased by 7 percent in Canada and 2 percent in the United States, according to the company driven largely by an increase in the price of its average sales transaction.
Birks & Mayors’ net profit for the year rose $1.3 million to $1.5 million, up from $0.2 million in fiscal 2012. Inventory decreased 4.5 percent.
“Fiscal 2013 represented a year of transition for the Company as we made significant progress toward implementing key initiatives and strategies to improve our business and raise our profitability over the next few years,” Jean-Christophe Bédos, president and CEO of Birks & Mayors, said in a statement.