Jan 24, 2023
Birks holiday sales outpace pre-pandemic levels
Jan 24, 2023
Canadian jeweller Birks Group said on Monday that comparable store sales for the 2023 holiday period surged by more than 15.3%, outperforming the most recent pre-Covid comparable period in 2020.
The Montreal-based company said that the sales jump was a result of an increase in both the branded jewelry and branded timepieces categories. The jump comes as Birks has worked to improve its third party brand portfolio mix and client offering. Most recently, it teamed up with luxury fashion house Balmain to launch a fine jewellery collection designed by creative director Olivier Rousteing.
The 2023 holiday period sales performance was impacted by softer November results, partially offset by a solid December. December results were fueled by the performance of its flagship stores, in large part derived from the positive performance of branded timepieces and branded jewelry, as client demand in the Canadian market remained strong for high-end luxury watches and jewelry.
Still, comparable store sales were down 3.2% when compared to the 2022 holiday period, during which the company had recorded a notable growth of 18.4% in comparable store sales.
“Our sales teams have delivered positive results this holiday period when considering the current macroeconomic environment, including comparable store sales growth in the month of December,” said Jean-Christophe Bédos, president and chief executive officer of Birks Group.
“I would like to thank our teams for their commitment on delivering excellent service to our customers. Furthermore, the increase of 15.3% in comparable store sales vs. FY2020, is an important achievement that demonstrates the continued success of our long-term strategies, on which we remain focused as we continue to position ourselves for long-term success.”
Birks Group currently operates 23 stores under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver operated under the Graff brand and one retail location in Vancouver under the Patek Philippe brand.
The Birks brand fine jewellery collections are also available through select Saks Fifth Avenue stores in Canada and the U.S., select Mappin & Webb and Goldsmiths locations in the United Kingdom, in Mayors stores in the United States, in W. Kruk stores in Poland as well as several jewellery retailers across North America and Europe.
Copyright © 2023 FashionNetwork.com All rights reserved.
