Birks & Mayors Holiday Sales +5%

(IDEX Online News) – Birks & Mayors announced a comparable store sales increase of 5 percent during the 2012 holiday season compared to 2011’s holiday period.

Comparable store sales in the U.S. increased by 6 percent and by 4 percent in Canada during this period. The company said the stronger sales results reflect an increase in the average sale.

In the third quarter, comparable store sales increased by 4 percent both the U.S. and Canada, again driven by an increase in the average sale in both regions.

Total revenues for the third quarter of fiscal 2013 decreased 1 percent to $101.4 million. The comparable store sales increase of 4 percent, or $3.6 million, and $1.8 million of higher reported sales due to currency translation, was offset by lower sales associated with the closure of three underperforming stores and the relocation and downsizing of two stores and lower revenues related to precious metal refining services offered to customers in Canada.

“I am very pleased with our sales performance during the holiday period especially with the success of several of our new initiatives including the complete transformation of some of our stores and the very successful introduction of several new Birks product collections in Canada,” said CEO and president Jean-Christophe Bédos.

"The success of these new initiatives along with the efforts of our dedicated team were the primary drivers of our higher comparable store sales performance."