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Birks Gets Boost from Strong Holiday Sales

January 12, 2022



RAPAPORT... Sales at Birks Group rose 16% year on year during the festive selling season, aided by the reopening of all the company’s stores and demand for popular collections.

Products from the Canada-based jeweler’s Bijoux Birks brand drove sales for the nine-week holiday period ending December 25, Birks said Tuesday. Sales of third-party watches and jewelry also performed well. The company’s store network was fully open, compared to the previous year when it shuttered seven of its 29 locations due to Covid-19 restrictions.

Sales grew 17% versus the same period of 2019, with Birks reporting improvement in all categories and selling channels, as it upgraded its merchandising strategy and created tailored marketing campaigns, the company explained.

“Our sales teams have delivered remarkable results this holiday period, including significant sales growth over last year, and over the pre-Covid-19 period, an important achievement that is a testament...to our strategic plan,” said Birks CEO Jean-Christophe Bédos.

Separately, Birks renewed its revolving credit facility with its lenders, it noted. The new terms will positively impact the company’s financial position, it added.

Image: Birks Group’s Toronto flagship store. (CNW Group/Birks Group)

Article originally published on Diamonds.net here

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