Birks sees 11% Increase in holiday season sales

By

Jennifer Braun

Published
Jan 15, 2017

Canadian luxury jewelry retailer Birks reported increased sales during the holiday season, following a difficult year.
 
The Montreal-based company reported that comparable store sales during the holiday season, for the period from October 30, 2016 through December 31, 2016, increased by 11 percent, compared to the same period last year. Comparable store sales in the U.S. increased by 16 percent, while Canadian comparable store sales grew by 3 percent.
 
Birks says 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.
 

“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,” says Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, in a news statement. “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.”
 
The Canadian retailer has had a difficult year sales wise. For the twenty-six week period ended September 24, 2016, the company reported a decline in net sales by $4.3 million or 3 percent to $129.7 million, compared to the same period last year, while gross profit was also down at $49.5 million, or 38.2 percent.

Birks was founded in 1879 and currently operates 46 luxury jewelry stores across Canada, Florida and Georgia.