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Birks Slides During Holidays
Jan 15, 2018 9:24 AM
By Rapaport News
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RAPAPORT... Birks Group’s November and December sales declined 4% due to
ongoing renovations at two flagship stores and weak consumer sentiment in Canada, the jeweler reported Friday.
The Montreal-based company noted comparable store sales grew 2% during the period, reflecting growth in locations that were open for more than a year and thus discounting the impact of the stores undergoing renovations. Birks Group president and CEO Jean-Christophe Bédos
attributed the improvement to increased sales of Birks-branded products,
targeted marketing campaigns and a rise in e-commerce sales.
“As we enter the final quarter of our fiscal year, we will
maintain our focus on our short-term and long-term growth strategies, namely
the renovation of our flagship stores, the global expansion of the Birks
product brand and the development of our e-commerce and wholesale businesses;
the execution of which will contribute to long-term sales and profitability
growth,” Bédos stated.
As part of that program, Birks last year signed a partnership deal with online retailer Luxify to sell rare
Canadian polished diamonds to the Asian market. The brand also received a boost
in 2017 when Prince Harry’s fiancée Meghan Markle wore the company’s opal earrings in her official engagement photos, as
well as its Snowflake earrings to lunch with the Queen.
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Tags:
birks, birks group, Canadian polished diamonds, Jean-Christophe Bédos, Jewelry, Meghan Markle, Prince Harry, Rapaport News
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