MONTREAL, Jan. 12, 2017 /CNW Telbec/ - Birks Group
Inc. (the "Company" or "Birks Group") (NYSE MKT: BGI), which
operates 46 luxury jewelry stores across Canada, Florida and Georgia, today announced that comparable store
sales during the holiday season (for the period from October 30, 2016 through December 31, 2016)
increased by 11% on a consolidated constant exchange rate basis
compared to last year's holiday season (for the period from
November 1, 2015 through January 2,
2016). Comparable store sales in the U.S. increased by 16%,
while Canadian comparable store sales grew by 3% on constant
exchange rate basis compared to the prior year's holiday season.
Comparable store sales include stores open in the same period in
both the current and prior year. The growth in comparable store
sales in both Canada and the U.S.
was primarily the result of the Company's success in growing its
average sales transaction and conversion rates, reflecting the
success of the Company's long-term sales growth strategies.
Jean-Christophe Bédos, President and Chief Executive Officer of
Birks Group, commented: "We are very pleased to see that the
continued execution of our sales growth strategies has led to a
record year in terms of holiday sales. These results were driven by
our focus on our Birks-branded products, our marketing campaigns as
well as our continued dedication to enhancing customer experience.
We also recognize the great support we received from our key
suppliers and from our senior lenders who, in December, extended
our senior credit facilities at favorable terms to 2021. As we
enter the final quarter of our fiscal year, we are confident that
we will build on the momentum of these holiday season
successes."
About Birks Group Inc.
Birks Group is a leading operator of luxury jewelry stores in
Canada and in the United States. As of January 12, 2017, we operated 26 stores under the
Birks brand in most major metropolitan markets of Canada, 17 stores in Florida and Georgia under the Mayors brand, one store
under the Rolex brand name and two retail locations in Calgary and Vancouver under the Brinkhaus brand. Birks was
founded in 1879 and developed over the years into Canada's premier retailer and designer of fine
jewelry, timepieces, and gifts. Mayors was founded in 1910
and has maintained the intimacy of a family-owned boutique while
becoming renowned for its fine jewelry, timepieces, giftware and
service. Additional information can be found on the Birks Group web
site, www.birksgroup.com.
Forward Looking Statements
This press release contains certain "forward-looking" statements
concerning the Company's performance and strategies, including the
Company's expectations that the execution of its key strategies
will lead to continued strong sales performance through the
remainder of the fiscal year. Because such statements include
various risks and uncertainties, actual results might differ
materially from those projected in the forward-looking statements
and no assurance can be given that we will meet the results
projected in the forward-looking statements. These risks and
uncertainties include, but are not limited to the following: (i)
economic, political and market conditions, including the economies
of the U.S. and Canada, which
could adversely affect our business, operating results or financial
condition, including our revenue and profitability, through the
impact of changes in the real estate markets (especially in the
state of Florida), changes in the
equity markets and decreases in consumer confidence and the related
changes in consumer spending patterns, the impact on store traffic,
tourism and sales; (ii) the impact of fluctuations in foreign
exchange rates, increases in commodity prices and borrowing costs
and their related impact on the Company's costs and expenses; (iii)
the Company's ability to maintain and obtain sufficient sources of
liquidity to fund its operations, to achieve planned sales, gross
margin and net income, to keep costs low, to implement its business
strategy, maintain relationships with its primary vendors, to
mitigate fluctuations in the availability and prices of the
Company's merchandise, to compete with other jewelers, to succeed
in its marketing initiatives, and to have a successful customer
service program. Information concerning factors that could cause
actual results to differ materially are set forth under the
captions "Risk Factors" and "Operating and Financial Review and
Prospects" and elsewhere in our Annual Report on Form 20-F filed
with the Securities and Exchange Commission on June 30, 2016 and subsequent filings with the
Securities and Exchange Commission. The Company undertakes no
obligation to update or release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of this statement or to reflect the occurrence of
unanticipated events, except as required by law.
SOURCE Birks Group Inc.