Jewelry retailer Birks & Mayors sales gain 17%

11 Jan '06
3 min read

Premier jewellery retailer Birks & Mayors Inc announced net sales increased 17 percent during the 2005 holiday season (October 30, 2005 through December 24, 2005).

The Company reported net sales of $90.1 million for the period, a 17 percent increase over last year's holiday sales of $77.2 million.

Birks & Mayors Inc's holiday sales results significantly exceeded the overall retail industry projection of 6 percent forecast by the National Retail Federation.

Comparable store sales (stores open in the same periods in both the current and prior years) also increased 17 percent.

On a constant-exchange-rate basis (see the heading 'Non-GAAP Measures' below), which excludes the effect of translating Canadian currency denominated sales into U.S. dollars, net sales and comparable store sales increased 15 percent.

The Company generated double-digit comparable store sales growth during both months of the holiday season with sales momentum accelerating in December.

Last year's comparable store sales for the November - December holiday sales period (October 31, 2004 through December 25, 2004) increased 13 percent, or 9 percent on a constant-exchange-rate basis, from the prior year period. Results are based on unaudited sales.

The company reported both its US and Canadian operations saw similar double digit comparable store sales growth during the holiday season with significant increases generated across most jewelry categories and watch brands.

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