Jeweler Birks & Mayors returns spectacular performance for Fiscal 2005

12 Jul '06

2 min read

Birks & Mayors Inc, which operates 67 luxury jewelry stores across Canada, Florida and Georgia, reported results for the fiscal year ended March 25, 2006 ("Fiscal 2005"). All amounts are reported in U.S. dollars.

For Fiscal 2005:
-- Net sales increased 14.6 percent to $274.3 million, from $239.3 million in the prior year;
-- Comparable store sales increased 11 percent;
-- Gross profit margin raise 150 basis points to 47.2 percent of net sales;
-- Net income increased by $4.5 million, or 389.5 percent, to $5.7 million, from $1.2 million in the prior year;
-- Diluted EPS rose to $0.57 from $0.17 in Fiscal 2004; and
-- In November 2005, the Company completed its acquisition of Mayor's Jewelers for which it had a controlling interest since 2002.

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Birks & Mayors is a leading operator of luxury jewelry stores in the United States and Canada. As of June 30, 2006, the Company operated 39 stores (Birks Brand) across most major metropolitan markets in Canada and 28 stores (Mayors Brand) across Florida and Georgia. Birks was founded in 1879 and developed over the years into Canada's premier retailer, designer and manufacturer of fine jewelry, timepieces, sterling and plated silverware and gifts.

Birks & Mayors Inc

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