Birks Group Delivers Small business Update | 2020-12-23 | Push Releases

Birks Team Inc. (the “Company&CloseCurlyDoubleQuote or “Birks Group&CloseCurlyDoubleQuote) (NYSE American: BGI), today offered a small business update stating that as of December 23, 2020, 22 of the Firm&CloseCurlyQuotes 29 merchants across Canada are open up and serving purchasers in accordance with the directives of community authorities and community health officials.

In accordance with recent provincial constraints to handle the “second wave&CloseCurlyDoubleQuote of the COVID-19 pandemic, 6 of the Enterprise&CloseCurlyQuotes Ontario merchants, which include its flagship Bloor Avenue retail store, and its Winnipeg keep in Manitoba, have been temporarily shut for in-human being shopping. As a consequence of even further provincial limitations that have been a short while ago announced, expected temporary closings for in-person purchasing have been prolonged to all of the Firm&CloseCurlyQuotes Ontario retailers starting up on December 26, 2020. We at this time hope the necessary closings to final until January 23, 2021. In addition, beginning December 25, 2020, all Québec merchants will be temporarily closed for in-individual shopping until eventually January 10, 2021. The Firm&CloseCurlyQuotes remaining 13 shops in British Columbia, Alberta and Saskatchewan remain open up for in-retail outlet purchasing.

Birks Team expects that its revenue for the thirty day period of January 2021 will be negatively impacted by these merchants closures and, as a end result of these developments, the Enterprise is utilizing measures to mitigate the monetary impact of these closures, like cutting down operating fees and extending payment conditions with a variety of stakeholders.

Curbside select up will be available by appointment only at the subsequent spots afflicted by the federal government restrictions:

Ontario

• Maison Birks Downtown Toronto – Bloor Street
• Maison Birks Yorkdale Shopping Centre
• Maison Birks Initially Canadian Location
• Maison Birks Sherway Gardens
• Maison Birks Rideau Centre

Quebec

• Maison Birks Sainte Catherine Avenue Montréal

“While some of our boutiques might be temporarily closed for in-keep shopping, there are still a range of techniques for customers to accessibility Maison Birks&CloseCurlyQuote elevated customer services,&CloseCurlyDoubleQuote states Jean-Christophe Bédos, President and CEO of Birks Team. “Through our Concierge Support, digital appointments and ecommerce, we are offered for our clientele and in a position to enable them shop safely in the course of this time. MaisonBirks.com is the #1 e-commerce vacation spot in Canada for luxurious watches and jewelry. We continue being dedicated to, and just lately invested in technological machines for the goal of, offering the maximum probable good quality in unique video buying to our shoppers.&CloseCurlyDoubleQuote

Customers can make arrangements for curbside pickup through Maison Birks&CloseCurlyQuote Concierge Assistance by cellular phone at +1 (855) 873-7373 and email at details@birks.com . Pick out boutiques are also presenting digital appointments, wherever shoppers can receive elevated services via movie chat. Digital appointments can be scheduled on the web at https://www.maisonbirks.com/en/digital-appointment .

Purchasers can carry on to store online 24/7 at MaisonBirks.com and profit from complimentary transport throughout Canada

About Birks Group Inc.

Birks Group is a top designer of wonderful jewellery, timepieces and items and operator of luxurious jewellery merchants in Canada. The Company operates 26 shops underneath the Maison Birks brand name in most major metropolitan markets in Canada, one retail site in Calgary under the Brinkhaus brand, one retail location in Vancouver operated underneath the Graff model and one spot in Vancouver less than the Patek Philippe manufacturer. Bijoux Birks fine jewelry collections are also obtainable as a result of Mappin & Webb and Goldsmiths places in the United Kingdom in addition to a number of jewelry merchants across North The united states. Birks was started in 1879 and has become Canada&CloseCurlyQuotes leading retailer and designer of good jewellery, timepieces and gifts. Supplemental details can be discovered on Birks&CloseCurlyQuote world-wide-web web site, www.birks.com .

Forward Searching Statements

This press launch is made up of specific “forward-wanting&CloseCurlyDoubleQuote statements which can be determined by their use of words and phrases like “plans,&CloseCurlyDoubleQuote “expects,&CloseCurlyDoubleQuote “believes,&CloseCurlyDoubleQuote “will,&CloseCurlyDoubleQuote “anticipates,&CloseCurlyDoubleQuote “intends,&CloseCurlyDoubleQuote “projects,&CloseCurlyDoubleQuote “estimates,&CloseCurlyDoubleQuote “could,&CloseCurlyDoubleQuote “would,&CloseCurlyDoubleQuote “may,&CloseCurlyDoubleQuote “planned,&CloseCurlyDoubleQuote “goal,&CloseCurlyDoubleQuote and other words and phrases of identical meaning. All statements that tackle anticipations, alternatives or projections about the foreseeable future, which include without having limitation, statements about our approaches for progress, enlargement strategies, sources or adequacy of cash, expenses and monetary outcomes are ahead-wanting statements.

Since these statements involve many pitfalls and uncertainties, true success could possibly vary materially from people projected in the forward-searching statements and no assurance can be offered that the Corporation will fulfill the effects projected in the ahead looking statements. These threats and uncertainties involve, but are not restricted to the adhering to: (i) the magnitude and size of financial disruption as a result of the worldwide COVID-19 outbreak, including its impression on (a) macroeconomic ailments, frequently, (b) the outcomes of operations and economic ailment of the Corporation, (c) the Company&CloseCurlyQuotes earnings as a consequence of retail store closures and linked measures to mitigate the money impression of these closures, such as cutting down running fees and extending payment terms with several stakeholders, (d) capital investments in technologies, and (e) the buying and selling price of its shares (ii) financial, political and current market conditions, like the economies of Canada and the U.S., which could adversely have an affect on the Company&CloseCurlyQuotes business, operating final results or financial issue, like its profits and profitability, as a result of the impression of alterations in the serious estate markets, variations in the equity markets and decreases in consumer self-confidence and the relevant changes in buyer paying styles, the effect on store website traffic, tourism and revenue (iii) the effects of fluctuations in overseas trade premiums, will increase in commodity price ranges and borrowing fees and their connected effect on the Enterprise&CloseCurlyQuotes costs and expenses (iv) changes in curiosity charges (v) the Enterprise&CloseCurlyQuotes capacity to keep and attain adequate resources of liquidity to fund its operations, to achieve prepared sales, gross margin and web income, to preserve expenditures very low, to apply its business enterprise strategy, retain relationships with its primary sellers, to mitigate fluctuations in the availability and costs of the Firm&CloseCurlyQuotes merchandise, to contend with other jewelers, to succeed in its promoting initiatives, and to have a prosperous consumer company software (vi) the Business&CloseCurlyQuotes capacity to carry on to borrow below its credit history services, (vii) the Business&CloseCurlyQuotes skill to manage rewarding operations, as perfectly as retain specified surplus availability ranges beneath its credit score amenities, make scheduled payments of principal and curiosity, and fund capital expenses (viii) the Business&CloseCurlyQuotes money performance in the second 50 % of fiscal 2021 and the level of cash expenditures needs connected to renewing retailer leases (ix) the Enterprise&CloseCurlyQuotes potential to execute its strategic eyesight (x) the Organization&CloseCurlyQuotes potential to continue as a going concern and (xii) the Company&CloseCurlyQuotes capability to reach compliance with the NYSE American&CloseCurlyQuotes continued listing specifications inside of the necessary time frame. Facts concerning things that could lead to precise effects to differ materially is established forth beneath the captions “Risk Components&CloseCurlyDoubleQuote and “Operating and Fiscal Critique and Potential customers&CloseCurlyDoubleQuote and elsewhere in the Organization&CloseCurlyQuotes Yearly Report on Variety 20-F submitted with the Securities and Trade Fee on July 8, 2020 and subsequent filings with the Securities and Exchange Fee. The Enterprise undertakes no obligation to update or launch any revisions to these forward-wanting statements to reflect functions or situation soon after the day of this assertion or to replicate the event of unanticipated functions, except as essential by legislation.

View source version on businesswire.com: https://www.businesswire.com/news/property/20201223005603/en/

Organization Contacts:

Katia Fontana

Vice President and Chief Economic Officer

(514) 397-2592

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