Birks Team Offers Business enterprise Update

MONTREAL–(Business enterprise WIRE)–Dec 11, 2020–

Birks Team Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), nowadays offered a business enterprise update.

As of December 11, 2020, 22 of the Company’s 29 merchants across Canada are opened and serving customers in accordance with the directives of local authorities and general public health and fitness officers. As a final result of provincial limits to tackle the “second wave” of the COVID-19 pandemic, the Company’s Winnipeg retail outlet is currently quickly closed for in-man or woman searching till more observe and 6 of the Company’s Ontario outlets, like its Bloor avenue flagship keep, are also temporarily shut for in-human being buying, for what we count on to be a minimum of four months ending on December 22, 2020. Even so, all of the affected suppliers remain out there for Concierge Assistance (over the telephone) and curbside pickup.

Moreover, in purchase to better provide its customers adhering to new and evolving restrictions surrounding in-retail store procuring across the place, the Firm is delighted to announce that it has extra virtual appointments to its Concierge Company across Canada, offering personalised movie purchasing services from home. Shops now under lockdown have been equipped with the suitable components to accomplish high-high quality movie appointments and product presentations.

Mr. Jean-Christophe Bédos, President and Chief Government Officer of Birks Team, commented: “For people purchasers who favor to shop from residence, our virtual concierge provider is able to provide elevated support more than movie chat. Clients will have the alternative to book a non-public appointment with a Maison Birks revenue skilled who can support with anything from pinpointing that excellent getaway present to choosing an engagement ring.”

Birks Team also introduced that it has acquired confirmation from the NYSE American LLC (“NYSE American”) on December 9, 2020 that the Firm was not in compliance with the continued listing standards set forth in Portion 1003(a)(i) of the NYSE American Corporation Guidebook (the “Company Guide”). That segment applies if a listed firm has stockholders’ equity of fewer than U.S. $2. million and has reported losses from continuing functions and/or web losses in two of its three most current fiscal yrs.

Birks Group can regain compliance beneath Segment 1003(a)(i) of the Organization Guidebook, as well as under Area 1003(a)(ii), as formerly disclosed, less than the compliance program authorized by NYSE American on October 22, 2020, which granted the Company an extension for its ongoing listing right until February 6, 2022. The Company is not necessary to post an added strategy to NYSE American with regard to Section 1003(a)(i). Receipt of the discover does not have an effect on the Company’s business, functions, money or liquidity ailment, or reporting specifications with the Securities and Exchange Commission.

About Birks Group Inc.

Birks Group is a leading designer of fantastic jewelry, timepieces and presents and operator of luxurious jewelry retailers in Canada. The Firm operates 26 merchants under the Maison Birks manufacturer in most key metropolitan markets in Canada, one retail locale in Calgary below the Brinkhaus model, just one retail site in Vancouver operated underneath the Graff manufacturer and one particular spot in Vancouver below the Patek Philippe brand. Bijoux Birks good jewelry collections are also obtainable by means of Mappin & Webb and Goldsmiths places in the United Kingdom in addition to quite a few jewellery stores throughout North The us. Birks was established in 1879 and has grow to be Canada’s leading retailer and designer of wonderful jewelry, timepieces and presents. Additional information and facts can be discovered on Birks’ internet website, www.birks.com.

Purchasers can routine appointments on line at https://www.maisonbirks.com/en/virtual-appointment. The Concierge Assistance is also available by cell phone at +1 (855) 873-7373 and e mail at [email protected]. Consumers can go on to shop on the web 24/7 at MaisonBirks.com and advantage from complimentary transport across Canada.

Forward Hunting Statements

This press release contains selected “forward-looking” statements. Supplied these statements incorporate numerous threats and uncertainties, real results might differ materially from those projected in the forward-hunting statements and no assurance can be presented that we will meet the outcomes projected in the forward wanting statements. These dangers and uncertainties contain, but are not minimal to the subsequent: (i) the magnitude and size of economic disruption as a outcome of the around the world COVID-19 outbreak, like its impression on macroeconomic circumstances, usually, as perfectly as its affect on the benefits of operations and financial affliction of the Organization and the investing price of its shares, (ii) economic, political and industry ailments, together with the economies of Canada and the U.S., which could adversely have an impact on the Company’s small business, operating success or money problem, together with its revenue and profitability, as a result of the impression of adjustments in the true estate markets, improvements in the fairness marketplaces and decreases in customer self confidence and the related modifications in customer expending patterns, the impact on keep targeted traffic, tourism and product sales (iii) the affect of fluctuations in international exchange premiums, improves in commodity price ranges and borrowing fees and their similar impact on the Company’s fees and expenses (iv) the Company’s capability to preserve and attain adequate sources of liquidity to fund its functions, to accomplish planned revenue, gross margin and web income, to preserve expenditures reduced, to implement its small business tactic, manage interactions with its most important suppliers, to mitigate fluctuations in the availability and prices of the Company’s items, to contend with other jewelers, to do well in its internet marketing initiatives, and to have a thriving customer support application (v) the Company’s means to execute its strategic eyesight and (vi) the Company’s capability to accomplish compliance with the NYSE American’s ongoing listing criteria in the needed time frame. Details regarding elements that could cause precise outcomes to vary materially are set forth below the captions “Risk Factors” and “Operating and Financial Evaluate and Prospects” and in other places in the Company’s Once-a-year Report on Variety 20-F submitted with the Securities and Exchange Commission on July 8, 2020 and subsequent filings with the Securities and Trade Commission. The Corporation undertakes no obligation to update or release any revisions to these forward-wanting statements to replicate occasions or situations immediately after the day of this statement or to replicate the occurrence of unanticipated events, besides as essential by law.

View supply edition on businesswire.com:https://www.businesswire.com/information/residence/20201211005467/en/

Get hold of: Firm:

Katia Fontana

Vice President and Chief Fiscal Officer

(514) 397-2592

For all push and media inquiries:

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 America CANADA

Business Key phrase: OTHER Manufacturing Luxurious Females Office Shops Adult males SPECIALTY Producing Shopper RETAIL

Resource: Birks Team Inc.

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PUB: 12/11/2020 04:30 PM/DISC: 12/11/2020 04:30 PM

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