Birks Team Delivers Enterprise Update

MONTREAL–(Business enterprise WIRE)–Dec 23, 2020–

Birks Team Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), today presented a company update stating that as of December 23, 2020, 22 of the Company’s 29 outlets throughout Canada are open and serving clientele in accordance with the directives of community federal government and community wellness officers.

In accordance with present-day provincial restrictions to handle the “second wave” of the COVID-19 pandemic, 6 of the Company’s Ontario merchants, which include its flagship Bloor Avenue keep, and its Winnipeg store in Manitoba, have been temporarily closed for in-particular person procuring. As a outcome of even further provincial limitations that were being a short while ago announced, expected short term closings for in-particular person searching have been extended to all of the Company’s Ontario merchants beginning on December 26, 2020. We now anticipate the needed closings to past until January 23, 2021. In addition, starting up December 25, 2020, all Québec merchants will be briefly shut for in-man or woman searching until eventually January 10, 2021. The Company’s remaining 13 outlets in British Columbia, Alberta and Saskatchewan keep on being open for in-retail store buying.

Birks Team expects that its earnings for the thirty day period of January 2021 will be negatively impacted by these merchants closures and, as a outcome of these developments, the Enterprise is implementing measures to mitigate the fiscal influence of these closures, including minimizing working charges and extending payment terms with many stakeholders.

Curbside decide on up will be available by appointment only at the subsequent areas affected by the governing administration constraints:

Ontario

  • Maison Birks Downtown Toronto – Bloor Road
  • Maison Birks Yorkdale Searching Centre
  • Maison Birks Initially Canadian Place
  • Maison Birks Sherway Gardens
  • Maison Birks Rideau Centre

Quebec

  • Maison Birks Sainte Catherine Road Montréal

“While some of our boutiques may be quickly shut for in-retailer shopping, there are however a selection of means for clientele to obtain Maison Birks’ elevated client assistance,” states Jean-Christophe Bédos, President and CEO of Birks Team. “Through our Concierge Service, digital appointments and ecommerce, we are out there for our purchasers and in a position to assist them shop securely throughout this time. MaisonBirks.com is the #1 e-commerce spot in Canada for luxurious watches and jewelry. We continue being committed to, and lately invested in technological equipment for the objective of, giving the best achievable top quality in unique online video browsing to our clients.”

Customers can make arrangements for curbside pickup as a result of Maison Birks’ Concierge Services by cell phone at +1 (855) 873-7373 and e mail at [email protected]. Decide on boutiques are also presenting digital appointments, in which clientele can obtain elevated support as a result of online video chat. Virtual appointments can be scheduled on the web at https://www.maisonbirks.com/en/virtual-appointment.

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

About Birks Team Inc.

Birks Group is a major designer of good jewellery, timepieces and gifts and operator of luxury jewellery outlets in Canada. The Corporation operates 26 suppliers below the Maison Birks manufacturer in most big metropolitan markets in Canada, just one retail place in Calgary less than the Brinkhaus brand, one particular retail area in Vancouver operated below the Graff manufacturer and just one spot in Vancouver underneath the Patek Philippe model. Bijoux Birks good jewellery collections are also available through Mappin & Webb and Goldsmiths spots in the United Kingdom in addition to several jewellery suppliers throughout North The usa. Birks was founded in 1879 and has turn out to be Canada’s premier retailer and designer of good jewelry, timepieces and items. More details can be identified on Birks’ website web site, www.birks.com.

Ahead Looking Statements

This push release has specified “forward-looking” statements which can be identified by their use of words and phrases like “plans,” “expects,” “believes,” “will,” “anticipates,” “intends,” “projects,” “estimates,” “could,” “would,” “may,” “planned,” “goal,” and other terms of comparable which means. All statements that deal with anticipations, alternatives or projections about the long run, together with without limitation, statements about our strategies for advancement, growth programs, sources or adequacy of funds, expenses and money effects are ahead-on the lookout statements.

For the reason that this kind of statements incorporate a variety of hazards and uncertainties, precise effects may possibly differ materially from these projected in the ahead-wanting statements and no assurance can be presented that the Firm will satisfy the outcomes projected in the forward looking statements. These challenges and uncertainties include, but are not limited to the following: (i) the magnitude and size of economic disruption as a result of the around the globe COVID-19 outbreak, which includes its effect on (a) macroeconomic problems, commonly, (b) the final results of functions and fiscal problem of the Firm, (c) the Company’s income as a outcome of retail outlet closures and related actions to mitigate the money impression of these closures, which includes lowering working expenses and extending payment conditions with different stakeholders, (d) funds investments in technological innovation, and (e) the investing value of its shares (ii) financial, political and market circumstances, including the economies of Canada and the U.S., which could adversely have an affect on the Company’s business enterprise, working benefits or economical affliction, which include its income and profitability, by way of the influence of variations in the serious estate marketplaces, variations in the equity markets and decreases in customer self-confidence and the connected variations in consumer investing styles, the impact on retail outlet website traffic, tourism and profits (iii) the impression of fluctuations in international exchange rates, increases in commodity rates and borrowing fees and their related effect on the Company’s prices and expenditures (iv) alterations in desire rates (v) the Company’s potential to manage and get hold of adequate resources of liquidity to fund its operations, to obtain planned income, gross margin and net revenue, to hold fees small, to apply its business enterprise method, retain relationships with its major sellers, to mitigate fluctuations in the availability and rates of the Company’s products, to compete with other jewelers, to succeed in its advertising and marketing initiatives, and to have a successful shopper support application (vi) the Company’s skill to carry on to borrow beneath its credit facilities, (vii) the Company’s skill to preserve successful functions, as nicely as keep specified extra availability stages below its credit history services, make scheduled payments of principal and interest, and fund funds expenses (viii) the Company’s money efficiency in the next fifty percent of fiscal 2021 and the stage of cash expenditures prerequisites related to renewing store leases (ix) the Company’s means to execute its strategic vision (x) the Company’s skill to continue as a heading problem and (xii) the Company’s skill to accomplish compliance with the NYSE American’s ongoing listing requirements inside the essential time frame. Info concerning elements that could result in actual effects to differ materially is established forth beneath the captions “Risk Factors” and “Operating and Economical Assessment and Prospects” and in other places in the Company’s Annual Report on Type 20-F filed with the Securities and Trade Fee on July 8, 2020 and subsequent filings with the Securities and Exchange Fee. The Company undertakes no obligation to update or release any revisions to these ahead-looking statements to mirror gatherings or instances immediately after the day of this assertion or to mirror the incidence of unanticipated activities, other than as demanded by regulation.

Look at source version on businesswire.com:https://www.businesswire.com/information/property/20201223005603/en/

Get in touch with: Business Contacts:

Katia Fontana

Vice President and Main Economical Officer

(514) 397-2592For all press and media inquiries, you should call:

OverCat Communications

Audrey Hyams Romoff,[email protected], (647) 223-9970

Gillian DiCesare,[email protected], (647) 223-5590

Chelsea Brooks,[email protected], (289) 221-6006

Keyword: NORTH The united states CANADA

Market Search phrase: On the internet RETAIL Producing Luxurious SPECIALTY Department Stores Females Fashion Adult men OTHER Manufacturing RETAIL Buyer

Source: Birks Team Inc.

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PUB: 12/23/2020 08:30 PM/DISC: 12/23/2020 08:30 PM

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