Birks Posts Profit in First Quarter as Comps Rise

Comps rose 6 percent in Canada and 1 percent in the United States

Birks Group posted a $5.4 million profit for fiscal 2016, a reversal from the prior year’s $8.6 million loss.

Comps for the year (ended March 26) rose 3 percent. Net sales totaled $285.8 million for the year, compared to $301.6 million for fiscal 2015, a 5.2 percent decrease. However, on a constant currency basis, they rose $4.4 million.

President and CEO Jean-Christophe Bédos credited the turnaround on “enhance[ed] customer experiences via our new store designs, the successful launch of our new collections, and our creative marketing campaigns.”

The company also announced that:

– Comps rose 6 percent in Canada and 1 percent in the United States.

– The overall increase in comps was due to an jump in the average transaction price.

– U.S. comps were helped by the sales of watches. Its Birks-branded jewelry line also performed well in Mayors stores.

JCK News Director