Birks Group, Inc. (BGI) Holiday Comps Rise 11%

Birks Group Inc. (NYSE: BGI), which operates 46 luxury jewelry stores across Canada, Florida and Georgia, today announced that comparable store sales during the holiday season (for the period from October 30, 2016 through December 31, 2016) increased by 11% on a consolidated constant exchange rate basis compared to last year’s holiday season (for the period from November 1, 2015 through January 2, 2016). Comparable store sales in the U.S. increased by 16%, while Canadian comparable store sales grew by 3% on constant exchange rate basis compared to the prior year’s holiday season. Comparable store sales include stores open in the same period in both the current and prior year. 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, reflecting the success of the Company’s long-term sales growth strategies.

Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: “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. 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. As we enter the final quarter of our fiscal year, we are confident that we will build on the momentum of these holiday season successes.”

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