Birks Group Provides Enterprise Update

Birks Team Inc. (the “Corporation” or “Birks Team”) (NYSE:BGI), now offered a business enterprise update stating that as of December 23, 2020, 22 of the Company’s 29 outlets across Canada are open up and serving shoppers in accordance with the directives of regional authorities and public well being officials.

In accordance with latest provincial limits to address the “2nd wave” of the COVID-19 pandemic, 6 of the Company’s Ontario shops, like its flagship Bloor Avenue keep, and its Winnipeg retail outlet in Manitoba, have been temporarily closed for in-particular person shopping. As a end result of further more provincial limits that had been not too long ago introduced, demanded short-term closings for in-human being buying have been extended to all of the Firm’s Ontario suppliers setting up on December 26, 2020. We at present be expecting the demanded closings to last until eventually January 23, 2021. In addition, starting off December 25, 2020, all Québec retailers will be briefly closed for in-individual procuring right until January 10, 2021. The Firm’s remaining 13 outlets in British Columbia, Alberta and Saskatchewan continue to be open for in-retail store procuring.

Birks Group expects that its revenue for the thirty day period of January 2021 will be negatively impacted by these suppliers closures and, as a result of these developments, the Firm is utilizing actions to mitigate the monetary impression of these closures, which include lessening functioning costs and extending payment phrases with numerous stakeholders.

Curbside decide on up will be available by appointment only at the subsequent locations influenced by the govt limits:

Ontario

  • Maison Birks Downtown Toronto – Bloor Avenue
  • Maison Birks Yorkdale Buying Centre
  • Maison Birks Very first Canadian Area
  • Maison Birks Sherway Gardens
  • Maison Birks Rideau Centre

Quebec

  • Maison Birks Sainte Catherine Street Montréal

“While some of our boutiques could be quickly closed for in-keep buying, there are continue to a quantity of means for consumers to access Maison Birks’ elevated customer service,” claims Jean-Christophe Bédos, President and CEO of Birks Group. “Through our Concierge Provider, virtual appointments and ecommerce, we are obtainable for our customers and ready to aid them shop properly throughout this time. MaisonBirks.com is the #1 e-commerce spot in Canada for luxury watches and jewelry. We keep on being committed to, and lately invested in technological tools for the reason of, providing the maximum attainable top quality in personal video browsing to our clientele.”

Consumers can make preparations for curbside pickup by means of Maison Birks’ Concierge Service by mobile phone at +1 (855) 873-7373 and email at [email protected] Find boutiques are also giving virtual appointments, where by customers can obtain elevated provider as a result of video chat. Digital appointments can be scheduled on the web at https://www.maisonbirks.com/en/virtual-appointment.

Purchasers can proceed to shop on the internet 24/7 at MaisonBirks.com and reward from complimentary transport across Canada

About Birks Group Inc.

Birks Group is a primary designer of high-quality jewellery, timepieces and items and operator of luxury jewellery outlets in Canada. The Organization operates 26 retailers below the Maison Birks model in most big metropolitan markets in Canada, one particular retail area in Calgary less than the Brinkhaus brand name, one retail area in Vancouver operated below the Graff brand and one locale in Vancouver beneath the Patek Philippe brand name. Bijoux Birks good jewelry collections are also out there through Mappin & Webb and Goldsmiths locations in the United Kingdom in addition to a number of jewellery suppliers throughout North America. Birks was launched in 1879 and has develop into Canada’s leading retailer and designer of fine jewellery, timepieces and gifts. Added data can be observed on Birks’ internet web-site, www.birks.com.

Forward Hunting Statements

This press release incorporates certain “forward-wanting” statements which can be recognized by their use of words like “ideas,” “expects,” “believes,” “will,” “anticipates,” “intends,” “projects,” “estimates,” “could,” “would,” “may perhaps,” “prepared,” “objective,” and other terms of related this means. All statements that tackle anticipations, possibilities or projections about the foreseeable future, which includes without limitation, statements about our procedures for development, expansion designs, sources or adequacy of money, expenses and monetary results are forward-looking statements.

Mainly because these types of statements contain different pitfalls and uncertainties, genuine outcomes might vary materially from those projected in the forward-seeking statements and no assurance can be provided that the Company will fulfill the effects projected in the forward searching statements. These hazards and uncertainties consist of, but are not restricted to the adhering to: (i) the magnitude and length of financial disruption as a final result of the all over the world COVID-19 outbreak, like its effects on (a) macroeconomic disorders, usually, (b) the outcomes of functions and fiscal ailment of the Company, (c) the Firm’s earnings as a consequence of keep closures and related actions to mitigate the economical impression of these closures, such as lessening functioning costs and extending payment terms with numerous stakeholders, (d) cash investments in engineering, and (e) the trading value of its shares (ii) financial, political and market place problems, such as the economies of Canada and the U.S., which could adversely influence the Firm’s company, working effects or financial ailment, which include its earnings and profitability, by the impact of alterations in the authentic estate marketplaces, improvements in the equity markets and decreases in buyer self-assurance and the associated changes in buyer paying designs, the affect on shop visitors, tourism and product sales (iii) the influence of fluctuations in international trade charges, improves in commodity prices and borrowing expenditures and their associated effects on the Company’s expenses and bills (iv) alterations in fascination rates (v) the Company’s potential to retain and receive enough sources of liquidity to fund its functions, to reach prepared revenue, gross margin and internet income, to keep charges lower, to employ its organization tactic, sustain relationships with its most important distributors, to mitigate fluctuations in the availability and charges of the Company’s goods, to contend with other jewelers, to triumph in its marketing and advertising initiatives, and to have a prosperous client company method (vi) the Firm’s ability to continue to borrow underneath its credit score amenities, (vii) the Company’s ability to preserve successful operations, as very well as maintain specified surplus availability amounts below its credit services, make scheduled payments of principal and curiosity, and fund money expenditures (viii) the Company’s money effectiveness in the next 50 percent of fiscal 2021 and the stage of funds expenditures demands related to renewing retail store leases (ix) the Company’s potential to execute its strategic eyesight (x) the Company’s means to continue as a going problem and (xii) the Firm’s capacity to obtain compliance with the NYSE American’s continued listing standards in the necessary time body. Info concerning aspects that could result in precise results to differ materially is set forth under the captions “Possibility Aspects” and “Working and Economic Evaluate and Prospective clients” and somewhere else in the Firm’s Yearly Report on Type 20-F filed with the Securities and Trade Commission on July 8, 2020 and subsequent filings with the Securities and Exchange Fee. The Corporation undertakes no obligation to update or launch any revisions to these forward-searching statements to replicate functions or situation soon after the date of this statement or to reflect the event of unanticipated events, apart from as needed by law.