Birks Group Supplies Small business Update

MONTREAL, Dec. 23, 2020 /CNW Telbec/ – Birks Team Inc. (the “Company” or “Birks Group”) (NYSE:BGI), right now provided a business update stating that as of December 23, 2020, 22 of the Company’s 29 suppliers across Canada are open up and serving shoppers in accordance with the directives of regional federal government and community overall health officers.



In accordance with recent provincial limitations to tackle the “next wave” of the COVID-19 pandemic, six of the Company’s Ontario outlets, including its flagship Bloor Avenue store, and its Winnipeg shop in Manitoba, have been temporarily shut for in-person purchasing.  As a consequence of even further provincial limits that ended up just lately announced, expected short-term closings for in-particular person browsing have been extended to all of the Firm’s Ontario outlets setting up on December 26, 2020.  We at present expect the required closings to final right up until January 23, 2021. In addition, starting up December 25, 2020, all Québec outlets will be temporarily shut for in-particular person shopping right up until January 10, 2021. The Company’s remaining 13 retailers in British Columbia, Alberta and Saskatchewan remain open for in-keep shopping.

Birks Team expects that its profits for the month of January 2021 will be negatively impacted by these shops closures and, as a outcome of these developments, the Company is utilizing actions to mitigate the economic affect of these closures, which includes reducing working fees and extending payment conditions with many stakeholders.

Curbside choose up will be offered by appointment only at the next places influenced by the authorities restrictions:

Ontario

  • Maison Birks Downtown Toronto – Bloor Street
  • Maison Birks Yorkdale Searching Centre
  • Maison Birks Initial Canadian Area
  • Maison Birks Sherway Gardens
  • Maison Birks Rideau Centre

Quebec

  • Maison Birks Sainte Catherine Avenue Montréal

“When some of our boutiques may be briefly closed for in-store searching, there are however a variety of techniques for purchasers to obtain Maison Birks’ elevated consumer services,” says Jean-Christophe Bédos, President and CEO of Birks Team. “Via our Concierge Provider, virtual appointments and ecommerce, we are accessible for our shoppers and ready to help them shop securely through this time. MaisonBirks.com is the #1 e-commerce destination in Canada for luxury watches and jewelry. We stay dedicated to, and lately invested in technological equipment for the function of, giving the best doable high-quality in person video clip searching to our purchasers.”

Purchasers can make arrangements for curbside pickup as a result of Maison Birks’ Concierge Company by telephone at +1 (855) 873-7373 and electronic mail at [email protected] Pick boutiques are also supplying virtual appointments, the place consumers can obtain elevated services by way of online video chat. Virtual appointments can be scheduled on the net at https://www.maisonbirks.com/en/virtual-appointment.

Clients can continue to store on the net 24/7 at MaisonBirks.com and reward from complimentary delivery across Canada

About Birks Team Inc.

Birks Team is a leading designer of wonderful jewelry, timepieces and gifts and operator of luxurious jewellery shops in Canada. The Company operates 26 suppliers beneath the Maison Birks brand in most big metropolitan marketplaces in Canada, just one retail locale in Calgary under the Brinkhaus brand name, just one retail spot in Vancouver operated under the Graff manufacturer and one site in Vancouver less than the Patek Philippe model. Bijoux Birks good jewellery collections are also offered via Mappin & Webb and Goldsmiths places in the United Kingdom in addition to numerous jewellery retailers throughout North The united states. Birks was launched in 1879 and has become Canada’s leading retailer and designer of fantastic jewelry, timepieces and gifts. More facts can be uncovered on Birks’ net site, www.birks.com.

Forward On the lookout Statements

This press launch is made up of sure “forward-hunting” statements which can be recognized by their use of words like “programs,” “expects,” “thinks,” “will,” “anticipates,” “intends,” “jobs,” “estimates,” “could,” “would,” “may well,” “planned,” “target,” and other text of similar which means. All statements that tackle expectations, choices or projections about the long run, which include with no limitation, statements about our techniques for development, enlargement plans, resources or adequacy of funds, expenditures and fiscal outcomes are forward-on the lookout statements.

Mainly because these statements incorporate various risks and uncertainties, precise results could possibly vary materially from those projected in the forward-looking statements and no assurance can be presented that the Corporation will satisfy the final results projected in the forward wanting statements. These hazards and uncertainties contain, but are not restricted to the subsequent: (i) the magnitude and length of financial disruption as a end result of the globally COVID-19 outbreak, together with its impression on (a) macroeconomic circumstances, commonly, (b) the final results of functions and monetary affliction of the Company, (c) the Firm’s earnings as a consequence of retail outlet closures and connected steps to mitigate the monetary impact of these closures, together with lowering operating fees and extending payment phrases with numerous stakeholders, (d) cash investments in know-how, and (e) the trading price of its shares (ii) economic, political and market problems, together with the economies of Canada and the U.S., which could adversely influence the Firm’s business, working results or fiscal affliction, which include its profits and profitability, through the effects of changes in the actual estate markets, improvements in the fairness markets and decreases in purchaser self-confidence and the connected improvements in shopper expending patterns, the effects on shop targeted traffic, tourism and sales (iii) the effects of fluctuations in overseas exchange fees, raises in commodity selling prices and borrowing prices and their relevant influence on the Firm’s prices and expenses (iv) changes in interest rates (v) the Company’s potential to maintain and attain adequate sources of liquidity to fund its functions, to attain prepared gross sales, gross margin and web income, to preserve charges lower, to carry out its enterprise technique, retain relationships with its major distributors, to mitigate fluctuations in the availability and prices of the Firm’s merchandise, to compete with other jewelers, to triumph in its marketing initiatives, and to have a successful client service system (vi) the Company’s ability to continue to borrow under its credit score amenities, (vii) the Firm’s potential to preserve financially rewarding functions, as nicely as manage specified excess availability concentrations underneath its credit score amenities, make scheduled payments of principal and fascination, and fund money expenditures (viii) the Firm’s money effectiveness in the next 50 percent of fiscal 2021 and the degree of cash expenses demands associated to renewing shop leases (ix) the Company’s capacity to execute its strategic eyesight * the Company’s capacity to proceed as a going issue and (xii) the Company’s capacity to attain compliance with the NYSE American’s continued listing requirements in the required time body. Information and facts relating to aspects that could lead to actual outcomes to vary materially is set forth beneath the captions “Threat Aspects” and “Working and Fiscal Evaluation and Potential customers” and in other places in the Firm’s Yearly Report on Form 20-F filed with the Securities and Trade Fee on July 8, 2020 and subsequent filings with the Securities and Trade Commission. The Company undertakes no obligation to update or launch any revisions to these ahead-searching statements to mirror gatherings or conditions right after the date of this assertion or to replicate the incidence of unanticipated events, besides as essential by regulation.

Supply Birks Team Inc.

Cision Watch unique content to obtain multimedia: http://www.newswire.ca/en/releases/archive/December2020/23/c2295.html