Birks

Birks Group Reports FY2024 Holiday Period Sales Results

Retrieved on: 
Friday, January 12, 2024
Retail, Department Stores, Other Retail, Jewelry, Perseverance, BGI, Birks Group, Birks, Growth, Comparable

Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), reported its sales results for the 8 week interim sales period ended December 30th, 2023 (the “FY2024 Holiday Period”) resulting in an increase of 8.1% in net sales as compared to the same period in FY2023.

Key Points: 
  • Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), reported its sales results for the 8 week interim sales period ended December 30th, 2023 (the “FY2024 Holiday Period”) resulting in an increase of 8.1% in net sales as compared to the same period in FY2023.
  • Comparable store sales for the FY2024 Holiday Period increased by 3.0% as compared to the same period in FY2023.
  • The 3.0% increase in comparable store sales in the FY2024 Holiday Period versus the same period in FY2023, was mainly attributable to the performance of both branded watches and Birks Fine Jewellery.
  • Mr. Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: “Our sales teams have delivered remarkable results this holiday period, including significant sales growth over last year.

Birks Group Reports Fiscal 2023 Results

Retrieved on: 
Friday, June 23, 2023
Retail, Luxury, Jewelry, Birks, StoneX Group Inc., RSU, SG, Comparable, Richard Mille, Tax, BGI, GAAP, Birks Group, Social Democrats (Slovenia), Growth, FWI, NYSE, Total, Tobacco, Cryptocurrency, Security (finance)

Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), today reported its financial results for the fiscal year ended March 25, 2023.

Key Points: 
  • Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), today reported its financial results for the fiscal year ended March 25, 2023.
  • The decrease in net sales in fiscal 2023 was primarily driven by the results of the Company’s retail channel.
  • For fiscal 2023, the Company’s Vancouver flagship store is excluded from the calculation of comparable store sales as a result of the RMBG Joint Venture;
    Total gross profit for fiscal 2023 was $68.0 million, or 41.7% of net sales, compared to $76.2 million, or 42.0% of net sales in fiscal 2022.
  • As a percentage of sales, SG&A expenses in fiscal 2023 increased by 430 basis points as compared to fiscal 2022;
    The Company’s EBITDA (1) for fiscal 2023 was $3.8 million, a decrease of $6.5 million, compared to EBITDA(1) of $10.3 million for fiscal 2022;
    The Company’s reported operating loss for fiscal 2023 was $3.8 million, a decrease of $8.3 million, compared to a reported operating income of $4.5 million for fiscal 2022;
    The Company’s recognized interest and other financing costs of $5.6 million in fiscal 2023, an increase of $2.4 million, compared to interest and other financing costs of $3.2 million in fiscal 2022.

BIRKS GROUP INC. UNVEILS NEW MAISON BIRKS CF CHINOOK CENTRE STORE IN CALGARY

Retrieved on: 
Wednesday, March 1, 2023
TAG Heuer, CF, Birks Group, Chinook Centre, Birks, Cartier, VIP, Rolex, Carrefour Laval, Interior design, Balmain, Longines, Breitling

MONTRÉAL, March 1, 2023 /CNW/ - Birks Group Inc., one of Canada's leading fine jewellery and timepiece retailers, has relocated their Maison Birks CF Chinook Centre location.

Key Points: 
  • MONTRÉAL, March 1, 2023 /CNW/ - Birks Group Inc., one of Canada's leading fine jewellery and timepiece retailers, has relocated their Maison Birks CF Chinook Centre location.
  • The 4,174 square foot Maison Birks store, developed by Optima Design, is located in the luxury section of the CF Chinook Centre and incorporates rich, dark wood tones, high ceilings and innovative lighting.
  • "After 63 years in the Calgary market, the relocation and expansion of the Maison Birks CF Chinook Centre store is an exciting new chapter for Birks Group Inc.," says Jean-Christophe Bédos, President and CEO, Birks Group.
  • The Maison Birks store at CF Carrefour Laval is also undergoing significant renovations which will be unveiled later this year.

Birks Group Reports Mid-Year Fiscal 2023 Results

Retrieved on: 
Wednesday, November 30, 2022
Fashion, Retail, Luxury, Jewelry, Department Stores, Specialty, COVID-19, Growth, Graff, Birks Group, United Kingdom, RSU, SG, Saks Fifth Avenue, Birks, Total, Comparable, FWI, Mappin & Webb, The Cannon Group, Inc., NYSE, Tax, BGI, DSU, Patek Philippe SA, Depreciation, GAAP, Goldsmith, Renewable energy, Animal, Retail, Airline, Brinkhaus

Birks Group Inc. (the Company or Birks Group) (NYSE American: BGI), today reported its financial results for the twenty-six week period ended September 24, 2022.

Key Points: 
  • Birks Group Inc. (the Company or Birks Group) (NYSE American: BGI), today reported its financial results for the twenty-six week period ended September 24, 2022.
  • It is thanks to our teams continuous dedication to our customers that we were able to achieve these results.
  • Birks Group is a leading designer of fine jewellery, timepieces and gifts and operator of luxury jewellery stores in Canada.
  • In addition to our results determined in accordance with U.S. GAAP, we use non-GAAP measures including EBITDA.

BIRKS JOINS THE RESPONSIBLE JEWELLERY COUNCIL

Retrieved on: 
Tuesday, November 29, 2022
Honey, Culture, Environment, Birks Group, Silver, ESG, University, Causality, The Nature Conservancy, Nature, Social, Partnership, United Nations Global Compact, Bee, Social Security Government Pension Offset, Gold, Interim, RJC, Good, IEC 62443, Social responsibility, Biophysical environment, Beauty, Gordon S. Lang School of Business and Economics (University of Guelph), Kimberley, Pollination, Jewellery, Renewable energy, Certification, Birks, Practice

MONTREAL, Nov. 29, 2022 /CNW/ - Birks, one of Canada's premier wedding and fine jewellery brands, is proud to announce that they have officially become a member of the Responsible Jewellery Council (RJC).

Key Points: 
  • MONTREAL, Nov. 29, 2022 /CNW/ - Birks, one of Canada's premier wedding and fine jewellery brands, is proud to announce that they have officially become a member of the Responsible Jewellery Council (RJC).
  • Birks' membership demonstrates their dedication to sustainability and the importance of upholding responsible business practices.
  • "As a leader in the Canadian jewellery industry, it is of paramount importance to us to be a part of the Responsible Jewellery Council."
  • Responsible Jewellery Council (RJC) is the leading standards organisation of the global jewellery and watch industry.

Flexiti Launches its Omni-Channel point-of-sale Financing solution at Michael Hill’s 85 Canadian Stores and at michaellhill.ca, and agrees to acquire existing Michael Hill Card Portfolio

Retrieved on: 
Monday, May 16, 2022
Software, Finance, Banking, Data Management, Professional Services, Technology, Online Retail, Retail, Company, NZX, Birks, American, Sleep Country Canada, Michael Hill International Violin Competition, Michael Hill, Solution, Omnichannel, ASX, Partnership, Staples, Sale, Michael Hill Jeweller, Group, Growth, Globe, NYSE, CEO, Online shopping, Bombardier Flexity Outlook (Toronto)

In addition, Flexiti and Michael Hill have entered into an agreement for Flexiti to acquire the existing Michael Hill Credit Card portfolio.

Key Points: 
  • In addition, Flexiti and Michael Hill have entered into an agreement for Flexiti to acquire the existing Michael Hill Credit Card portfolio.
  • Michael Hill launched Flexitis omni-channel sales financing platform in its 85 Canadian locations in late 2021 and website in early 2022.
  • As a retail member of the Flexiti Network, existing FlexitiCard holders can also shop with their cards to finance purchases at Michael Hill.
  • In a global first for Michael Hill, Flexiti allows their Canadian customers to apply for long-term credit options online.

Birks Group Regains Compliance With NYSE American Continued Listing Standards

Retrieved on: 
Monday, February 7, 2022
Fashion, Other Retail, Luxury, Retail, Specialty, Birks Group, NYSE American, Growth, U.S. Securities and Exchange Commission, Primary Dealer Credit Facility, Income, Patek Philippe SA, Public expenditure, Company, Marketing, Graff, Australian Financial Review, Birks, Mappin & Webb, Asset management plan period, BGI, Saks Fifth Avenue, Review, Security (finance), Compliance, NYSE, Goldsmith, United Kingdom, Tourism, StoneX Group Inc., Line of credit, COVID-19, Risk management, Brinkhaus

Birks Group Inc. (the Company) (NYSE American: BGI), announced today that the Company is back in compliance with the NYSE American LLC (NYSE American) continued listing standards.

Key Points: 
  • Birks Group Inc. (the Company) (NYSE American: BGI), announced today that the Company is back in compliance with the NYSE American LLC (NYSE American) continued listing standards.
  • As previously reported, on August 13, 2020, the Company was notified by the NYSE American that it was not in compliance with the continued listing standards set forth in Section 1003(a)(ii) of the NYSE American Company Guide (the Company Guide).
  • Furthermore, on December 9, 2020, the Company was notified by the NYSE American that it was not in compliance with the continued listing standards set forth in Section 1003(a)(i) of the Company Guide.
  • During the Plan Period, the Company submitted quarterly plan updates for review by the NYSE American, such quarterly updates were all accepted by the NYSE American.

BIRKS GROUP REGAINS COMPLIANCE WITH NYSE AMERICAN CONTINUED LISTING STANDARDS

Retrieved on: 
Monday, February 7, 2022
Birks Group, NYSE American, Vii, Growth, U.S. Securities and Exchange Commission, Primary Dealer Credit Facility, Income, Patek Philippe SA, Public expenditure, Company, Marketing, Annual report, Graff, Australian Financial Review, Birks, Mappin & Webb, Asset management plan period, Risk, BGI, Saks Fifth Avenue, Review, Security (finance), Compliance, NYSE, Goldsmith, United Kingdom, Tourism, Line of credit, The Company, COVID-19, Risk management, Brinkhaus

MONTREAL, Feb. 7, 2022 /CNW Telbec/ - Birks Group Inc. (the "Company") (NYSE: BGI), announced today that the Company is back in compliance with the NYSE American LLC ("NYSE American") continued listing standards.

Key Points: 
  • MONTREAL, Feb. 7, 2022 /CNW Telbec/ - Birks Group Inc. (the "Company") (NYSE: BGI), announced today that the Company is back in compliance with the NYSE American LLC ("NYSE American") continued listing standards.
  • As previously reported, on August 13, 2020, the Company was notified by the NYSE American that it was not in compliance with the continued listing standards set forth in Section 1003(a)(ii) of the NYSE American Company Guide (the "Company Guide").
  • Furthermore, on December9, 2020, the Company was notified by the NYSE American that it was not in compliance with the continued listing standards set forth in Section1003(a)(i) of the Company Guide.
  • On October22, 2020, NYSE American notified the Company that it accepted the compliance plan and granted the Company an extension for its continued listing until February6, 2022 (the "Plan Period").

Birks Group Reports FY2022 Holiday Period Sales Results

Retrieved on: 
Wednesday, January 12, 2022
Retail, Specialty, Luxury, Fashion, Income, Comparable, Patek Philippe SA, Credit, Vii, Birks Group, COVID-19, Public expenditure, NYSE, Achievement, Growth, Goldsmith, Australian Financial Review, Government, Tourism, Crystal, Creativity, Mappin & Webb, U.S. Securities and Exchange Commission, Ownership, Graff, Marketing, Company, StoneX Group Inc., Saks Fifth Avenue, Birks, BGI, United Kingdom, Security (finance), Retail, Risk management, Brinkhaus

Birks Group Inc. (the Company or Birks Group) (NYSE American: BGI), reported its sales results for the 9 week interim sales period ending December 25, 2021 (the FY2022 Holiday Period) including a 16.3% net sales increase as compared to the comparable period in FY2021 and a 17.2% net sales increase as compared to the comparable period in FY2020.

Key Points: 
  • Birks Group Inc. (the Company or Birks Group) (NYSE American: BGI), reported its sales results for the 9 week interim sales period ending December 25, 2021 (the FY2022 Holiday Period) including a 16.3% net sales increase as compared to the comparable period in FY2021 and a 17.2% net sales increase as compared to the comparable period in FY2020.
  • For the FY2022 Holiday Period, net sales were 16.3% greater than last year, driven by a comparable store sales increase of 18.4%, primarily as a result of strong sales performances in the Bijoux Birks brand product sales and in the third party watches and jewellery categories.
  • Net sales during the FY2022 Holiday Period represent a 17.2% increase over the comparable period in FY2020, a period unencumbered by COVID-19 restrictions.
  • Mr. Jean-Christophe Bdos, President and Chief Executive Officer of Birks Group, commented: Our sales teams have delivered remarkable results this holiday period including significant sales growth over last year and over the pre-COVID period, an important achievement that is a testament not only to our determination and commitment to our customers, but also to the continued success of our strategic plan.

Birks Group Announces Renewal of Credit Facilities

Retrieved on: 
Wednesday, December 29, 2021
Retail, Specialty, Luxury, Other Retail, Growth, Crystal, COVID-19, Tourism, U.S. Securities and Exchange Commission, LIBOR, SLR, BGI, Birks, Birks Group, Public expenditure, Patek Philippe SA, Credit, Company, Graff, Mappin & Webb, United Kingdom, NYSE, Saks Fifth Avenue, Goldsmith, Wells Fargo, Marketing, Vii, Security (finance), Australian Financial Review, Income, StoneX Group Inc., Public relations, Bank, Risk management, Brinkhaus

Birks Group Inc. (the Company or Birks Group) (NYSE American: BGI) today announced that it has entered into an amended and restated senior secured revolving credit facility (Amended Credit Facility) with Wells Fargo Capital Finance Corporation Canada (Wells Fargo) and a senior secured term loan (Amended Term Loan) with Crystal Financial LLC (dba SLR Credit Solutions) (SLR).

Key Points: 
  • Birks Group Inc. (the Company or Birks Group) (NYSE American: BGI) today announced that it has entered into an amended and restated senior secured revolving credit facility (Amended Credit Facility) with Wells Fargo Capital Finance Corporation Canada (Wells Fargo) and a senior secured term loan (Amended Term Loan) with Crystal Financial LLC (dba SLR Credit Solutions) (SLR).
  • The Amended Credit Facility and Amended Term Loan extend the maturity date of the Companys existing loans from October 2022 to December 2026.
  • Mr. Jean-Christophe Bdos, President and Chief Executive Officer of Birks Group, commented: I am pleased to announce the successful renewals of our senior secured credit facilities with Wells Fargo and SLR.
  • Birks Group is a leading designer of fine jewellery, timepieces and gifts and operator of luxury jewellery stores in Canada.