Birks Team Supplies Company Update
Birks Team Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), now provided a small business update stating that as of December 23, 2020, 22 of the Company’s 29 stores throughout Canada are open and serving customers in accordance with the directives of area federal government and public wellness officials.
In accordance with present-day provincial limitations to handle the “second wave” of the COVID-19 pandemic, six of the Company’s Ontario merchants, like its flagship Bloor Street retailer, and its Winnipeg retail outlet in Manitoba, have been briefly shut for in-human being procuring. As a result of even more provincial constraints that were not long ago introduced, needed temporary closings for in-person shopping have been extended to all of the Company’s Ontario suppliers starting off on December 26, 2020. We at this time count on the necessary closings to very last until eventually January 23, 2021. In addition, beginning December 25, 2020, all Québec stores will be temporarily shut for in-individual purchasing right until January 10, 2021. The Company’s remaining 13 stores in British Columbia, Alberta and Saskatchewan continue to be open up for in-retail store procuring.
Birks Team expects that its revenue for the thirty day period of January 2021 will be negatively impacted by these retailers closures and, as a final result of these developments, the Enterprise is applying actions to mitigate the money effect of these closures, which includes decreasing functioning expenditures and extending payment phrases with various stakeholders.
Curbside select up will be available by appointment only at the pursuing locations afflicted by the govt constraints:
- Maison Birks Downtown Toronto – Bloor Street
- Maison Birks Yorkdale Browsing Centre
- Maison Birks First Canadian Spot
- Maison Birks Sherway Gardens
- Maison Birks Rideau Centre
- Maison Birks Sainte Catherine Street Montréal
“While some of our boutiques may perhaps be briefly shut for in-retailer purchasing, there are nevertheless a range of means for purchasers to accessibility Maison Birks’ elevated shopper support,” suggests Jean-Christophe Bédos, President and CEO of Birks Team. “Through our Concierge Provider, virtual appointments and ecommerce, we are accessible for our consumers and ready to support them store securely during this time. MaisonBirks.com is the #1 e-commerce vacation spot in Canada for luxurious watches and jewelry. We continue to be fully commited to, and just lately invested in technological products for the objective of, providing the optimum probable top quality in unique movie shopping to our shoppers.”
Consumers can make preparations for curbside pickup by Maison Birks’ Concierge Provider by telephone at +1 (855) 873-7373 and e-mail at [email protected] Choose boutiques are also giving virtual appointments, exactly where shoppers can obtain elevated service through movie chat. Digital appointments can be scheduled on-line at https://www.maisonbirks.com/en/virtual-appointment.
Customers can carry on to store on-line 24/7 at MaisonBirks.com and benefit from complimentary delivery across Canada
About Birks Group Inc.
Birks Group is a major designer of wonderful jewellery, timepieces and presents and operator of luxurious jewelry suppliers in Canada. The Company operates 26 retailers under the Maison Birks brand in most major metropolitan marketplaces in Canada, a person retail site in Calgary less than the Brinkhaus model, just one retail place in Vancouver operated under the Graff model and one particular area in Vancouver below the Patek Philippe manufacturer. Bijoux Birks great jewelry collections are also out there as a result of Mappin & Webb and Goldsmiths places in the United Kingdom in addition to many jewelry merchants throughout North The us. Birks was started in 1879 and has develop into Canada’s leading retailer and designer of wonderful jewelry, timepieces and gifts. Supplemental data can be located on Birks’ net web-site, www.birks.com.
Ahead On the lookout Statements
This push release contains specified “forward-looking” statements which can be recognized by their use of terms like “plans,” “expects,” “believes,” “will,” “anticipates,” “intends,” “projects,” “estimates,” “could,” “would,” “may,” “planned,” “goal,” and other terms of related indicating. All statements that address anticipations, prospects or projections about the long term, which includes devoid of limitation, statements about our tactics for growth, expansion plans, resources or adequacy of money, expenses and fiscal results are ahead-searching statements.
Due to the fact these kinds of statements incorporate several pitfalls and uncertainties, true outcomes may vary materially from these projected in the forward-hunting statements and no assurance can be provided that the Corporation will meet the effects projected in the forward looking statements. These dangers and uncertainties include, but are not restricted to the adhering to: (i) the magnitude and duration of economic disruption as a consequence of the all over the world COVID-19 outbreak, like its affect on (a) macroeconomic conditions, normally, (b) the outcomes of functions and fiscal affliction of the Business, (c) the Company’s revenue as a final result of retail store closures and linked steps to mitigate the monetary effect of these closures, which include minimizing operating expenditures and extending payment terms with numerous stakeholders, (d) cash investments in technological know-how, and (e) the buying and selling rate of its shares (ii) financial, political and industry disorders, which includes the economies of Canada and the U.S., which could adversely impact the Company’s organization, functioning benefits or economical issue, which includes its profits and profitability, through the effects of improvements in the genuine estate marketplaces, variations in the equity marketplaces and decreases in client self-confidence and the relevant adjustments in purchaser shelling out styles, the influence on retail store visitors, tourism and sales (iii) the impact of fluctuations in overseas trade fees, raises in commodity prices and borrowing fees and their linked impression on the Company’s costs and expenditures (iv) modifications in curiosity premiums (v) the Company’s capacity to preserve and receive ample resources of liquidity to fund its functions, to realize prepared income, gross margin and net profits, to keep costs small, to implement its business technique, retain relationships with its main distributors, to mitigate fluctuations in the availability and price ranges of the Company’s merchandise, to contend with other jewelers, to triumph in its internet marketing initiatives, and to have a effective customer support plan (vi) the Company’s capacity to continue to borrow below its credit score facilities, (vii) the Company’s means to preserve successful functions, as well as retain specified surplus availability degrees beneath its credit history services, make scheduled payments of principal and curiosity, and fund capital expenditures (viii) the Company’s fiscal performance in the second half of fiscal 2021 and the stage of money expenditures necessities related to renewing keep leases (ix) the Company’s means to execute its strategic eyesight (x) the Company’s potential to proceed as a likely issue and (xii) the Company’s skill to obtain compliance with the NYSE American’s ongoing listing standards inside the required time frame. Information and facts about variables that could result in real results to vary materially is set forth below the captions “Risk Factors” and “Operating and Monetary Critique and Prospects” and in other places in the Company’s Yearly Report on Form 20-F filed with the Securities and Trade Commission on July 8, 2020 and subsequent filings with the Securities and Trade Fee. The Firm undertakes no obligation to update or release any revisions to these forward-wanting statements to mirror gatherings or circumstances just after the day of this assertion or to mirror the prevalence of unanticipated gatherings, besides as essential by legislation.
Vice President and Chief Fiscal Officer
For all push and media inquiries, make sure you speak to:
Audrey Hyams Romoff, [email protected], (647) 223-9970
Gillian DiCesare, [email protected], (647) 223-5590
Chelsea Brooks, [email protected], (289) 221-6006
See supply variation on businesswire.com: https://www.businesswire.com/information/dwelling/20201223005603/en/