Birks Group, Inc. (BGI) Q3 Comps Increase 3.5%

Birks Group Inc. (NYSE MKT: BGI), announced today that comparable store sales for the third quarter increased by 3.5% from the previous year reflecting a 5.9% increase in comparable store sales in Canada and a 1.4% increase in comparable stores sales in the U.S., notwithstanding the strong U.S. dollar impacting tourist spending in the U.S.

Total consolidated net sales for the third quarter were 6.6% lower than the comparable period last year. Excluding the impact of the weaker Canadian dollar, total consolidated net sales for the third quarter were 1.2% greater than the comparable period last year. Canada stores continue to experience an increase in average sales transactions, while the sale of timepieces and fine jewelry in the U.S. continue to be higher than last year, with the U.S. experiencing a 2.4% increase compared to last year for the holiday period.

Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: “We outperformed the market and delivered sales growth during the third quarter despite a challenging retail environment due to the strong U.S. dollar that is impacting tourism in the U.S., while low oil and commodity prices have affected sales for Canada. We are confident that continuing with the execution of our corporate strategies will serve us well for the remainder of the fiscal year.”

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