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Birks Group Sees Significant Sales Uptick During Holiday Season January 18, 2024 (0 comments)
Montreal, Canada--Birks Group Inc. reported an 8.1% surge in net sales for the crucial eight-week holiday, concluding on December 30, 2023. Compared to the same period in the previous year, this uptick was paralleled by a 3% increase in comparable store sales.
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The popular third-party branded watches and the revamping of stores in Chinook and Laval mainly fueled the sales performance. E-commerce platforms also saw an upswing, playing a substantial role in the company's overall financial success. A report in Investing noted that high-end watches and the Birks Fine Jewellery collection notably bolstered the growth in comparable store sales.
Jean-Christophe Bédos, the President and CEO of Birks Group acknowledged the sales teams' outstanding efforts during the festive period. In the report, Bédos thanked the staff for their relentless hard work and commitment.
The firm utilizes comparable store sales as a key indicator of its operational efficiency. This metric includes online sales and accounts for the performance of stores operational for the full duration of the compared periods. It excludes outlets that were either non-operational for the entirety of the periods compared or those that underwent significant resizing or relocation.
Birks Group maintains a network of 21 Maison Birks branded stores located across major Canadian cities and operates additional outlets under various high-end luxury brands. The company's fine jewelry collections are accessible through selected retail partners in Canada, the United States, the United Kingdom, and Poland.
Learn more in the report on Investing.