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Birks Slides During Holidays

Jan 15, 2018 9:24 AM   By Rapaport News
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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.
Tags: birks, birks group, Canadian polished diamonds, Jean-Christophe Bédos, Jewelry, Meghan Markle, Prince Harry, Rapaport News
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