Birks Group, the Montreal-based jeweler, achieved a sales improvement of 15.5% for fiscal 2026 yet remained unprofitable on a net basis for the year.
The company reported Tuesday that net sales increased to CAN$205.4 million for the fiscal year ended March 28, 2026, up from CAN$177.8 million the previous year.
Birks said it reduced its overall net loss in 2026 to C$3.4 million, or 17 cents per share, from C$12.8 million, or 66 cents per share, in fiscal 2025. The narrower loss came despite continued financing costs and other expenses that outweighed gains from stronger operations.
Operating income totaled C$3.1 million for the year, compared with an operating loss of C$5.5 million a year earlier. Birks’ gross profit increased to C$79.2 million from C$66.3 million, while adjusted EBITDA rose to C$12.9 million from C$9.2 million.
According to Birks, the sales increase was driven in part by its acquisition of the luxury jewelry and watch retail operations of European Boutique, as well as higher sales of both Birks-branded and third-party jewelry. Comparable-store sales increased 2.6% during the year, the company said.
Earlier this month, global asset experts Gordon Brothers announced that it had provided financing to Birks “to support the company’s growth strategy, providing enhanced liquidity and flexibility.”
The jewelry group is still in the search process for a new CEO. Niccolò Rossi di Montelera has been serving as interim CEO since Jean-Christophe Bédos stepped down as president and chief executive officer in August 2025.
Birks operates 32 stores across Canada, including locations under the Maison Birks, TimeVallée, Brinkhaus, Patek Philippe, Chaumet, Breitling, Omega, Montblanc, and European Boutique banners.
In May, Birks was fined more than $50,000 by the Canadian government for noncompliance with the country’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
The JCK News Desk uses AI to help research and produce the first draft of articles. This story was then reviewed by staff writer David Blomquist.
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