×
53 626
Fashion Jobs
MARSHALLS
Marshalls Store Detective- Sacramento, ca
Permanent · Sacramento
ROSS
Store Protection Specialist
Permanent · Los Angeles
REISS
Full Time Sales Supervisor
Permanent · SANTA CLARA
URBN
Free People Merchandise Planning Manager
Permanent · PHILADELPHIA
H&M
h&m Retail Visual Keyholder
Permanent · BRANSON
SACK OFF 5TH
Asset Protection Investigator
Permanent · LOS ANGELES
AMERICAN EAGLE OUTFITTERS
Manager - Human Resources (Supporting Stores)
Permanent · PITTSBURGH
AMERICAN EAGLE OUTFITTERS
Category Manager - Non Merchandise Procurement
Permanent · PITTSBURGH
AMERICAN EAGLE OUTFITTERS
sr. Cloud Security Analyst
Permanent · PITTSBURGH
OLD NAVY
District Manager - Indianapolis South (Remote)
Permanent · INDIANAPOLIS
OLD NAVY
District Manager - Indianapolis South (Remote)
Permanent · GREENWOOD
GAP INC.
Asset Protection Coordinator - Mayfair Collection
Permanent · WAUWATOSA
GAP
General Manager - Silverthorne Outlets
Permanent · SILVERTHORNE
OLD NAVY
Asset Protection Service Representative - 86th & Lexington
Permanent · NEW YORK
ATHLETA
Assistant General Manager - Park Meadows
Permanent · LONE TREE
OLD NAVY
Asset Protection Service Representative - Christiana Towne Ctr
Permanent · CHRISTIANA
OLD NAVY
Asset Protection Coordinator - Ladue Crossing
Permanent · LADUE
OLD NAVY
Asset Protection Service Representative - s Colorado Blvd
Permanent · DENVER
GAP
Asset Protection Service Representative - Gloucester Premium
Permanent · GLOUCESTER TOWNSHIP
GAP
Asset Protection Service Representative - Atlantic City Tanger
Permanent · ATLANTIC CITY
OLD NAVY
General Manager - Merle Hay
Permanent · DES MOINES
OLD NAVY
Asset Protection Service Representative - Arundel Mills
Permanent · HANOVER
Published
Dec 1, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Birks sales fall 5% in H1

Published
Dec 1, 2022

Canadian luxury jewelry retailer Birks Group announced on Wednesday a net sales drop of 5% in the first half of 2023. 

Birks sales fall 5% in the first-half fiscal 2023. - Birks


For the twenty-six week period ended September 24, 2022, the Montreal-based company reported net sales of $80 million compared to $84.6 million, reported during the same period last year. 

The decrease was primarily driven by the company’s retail sales, which were $3.9 million lower than the comparable prior year period. Still, the decrease was partially offset by an 8.2% increase in comparable store sales, in part due to the reduced impact of Covid-19. 

The increase was experienced across all product categories, with branded jewelry and branded timepiece products benefitting from the company's improved third party brand portfolio and client offering. The company also attributed the uptick in comparable store sales to the performance of the Birks fine jewelry and bridal collections. 

Birks recorded a net loss for the twenty-six week period of $2 million, or $0.11 per share, compared to $1 million, or $0.05 per share, for the prior-year period.

"We are pleased with our performance in the first half of fiscal 2023 when we consider comparable store sales growth of 8.2% and a continued improvement in our gross margins, which speaks to the strength of our product offerings, both in terms of our Birks products and in terms of our third party branded watches and jewellery, as well as to the loyalty of our customer base,” said Jean-Christophe Bédos, president and chief executive officer of Birks Group.

"These results were achieved despite uncertain macroeconomic conditions. It is thanks to our team's continuous dedication to our customers that we were able to achieve these results. I believe that our Company is in a strong position to achieve its long-term strategic objectives as we continue to run our business in an agile manner in the near-term, with a clear view and focus on long-term growth.”

Early this month, Birks teamed up with luxury fashion house Balmain to launch a fine jewellery collection designed by creative director Olivier Rousteing

The company 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 location in Vancouver under the Patek Philippe brand. 

Copyright © 2023 FashionNetwork.com All rights reserved.