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RAPAPORT... Birks Group Inc. reported that revenue rose 3.2 percent year on year to $97.6 million in the third quarter that ended on December 28. The increase reflected higher comparable-store sales, which rose 11 percent, offset by $3.8 million of lower reported sales due to a weaker Canada dollar and a drop of $1.5 million in revenue due to having closed four locations this year. Same-store sales jumped 17 percent in the U.S. and 5 percent in Canada during the quarter.
Specifically for the Christmas season (November 2 to December 27), Birks reported that comparable-store sales rose 7 percent, with same-store sales up 11 percent in the U.S. and 3 percent in Canada. Sales growth was primarily the result of an increased average sales transaction value and strong watch brand revenue.
Jean-Christophe Bédos, the president and CEO of Birks, said, “We are very pleased to see that the continued execution of our strategies, which we began implementing during the prior year and which delivered strong sales growth during the first half of the fiscal year, continued to drive strong sales growth during the third quarter and holiday period. As we enter the final quarter of our fiscal year, we remain confident that the continuing execution of our key strategies will enable us to continue our strong sales performance through the remainder of the fiscal year.”
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