MONTREAL–(Enterprise WIRE)–Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), currently supplied a organization update.
As of December 11, 2020, 22 of the Company’s 29 outlets across Canada are opened and serving customers in accordance with the directives of regional authorities and community well being officials. As a final result of provincial limits to handle the “second wave” of the COVID-19 pandemic, the Company’s Winnipeg retail outlet is presently briefly shut for in-human being shopping right until further detect and 6 of the Company’s Ontario shops, which includes its Bloor street flagship store, are also quickly shut for in-person searching, for what we assume to be a minimum of 4 months ending on December 22, 2020. Having said that, all of the impacted retailers remain obtainable for Concierge Service (in excess of the phone) and curbside pickup.
On top of that, in buy to superior serve its shoppers adhering to new and evolving restrictions bordering in-store browsing across the place, the Enterprise is delighted to announce that it has added virtual appointments to its Concierge Provider across Canada, providing customized video clip browsing services from home. Suppliers currently below lockdown have been geared up with the ideal hardware to complete superior-high quality video appointments and product presentations.
Mr. Jean-Christophe Bédos, President and Chief Govt Officer of Birks Group, commented: “For these purchasers who want to store from dwelling, our digital concierge support is ready to present elevated help around video chat. Purchasers will have the alternative to guide a non-public appointment with a Maison Birks income expert who can help with everything from identifying that excellent holiday break gift to choosing an engagement ring.”
Birks Group also introduced that it has obtained affirmation from the NYSE American LLC (“NYSE American”) on December 9, 2020 that the Enterprise was not in compliance with the continued listing requirements established forth in Part 1003(a)(i) of the NYSE American Company Guide (the “Company Guide”). That segment applies if a detailed enterprise has stockholders’ equity of much less than U.S. $2. million and has claimed losses from continuing functions and/or internet losses in two of its a few most current fiscal decades.
Birks Team can get back compliance under Area 1003(a)(i) of the Business Guidebook, as effectively as under Portion 1003(a)(ii), as formerly disclosed, beneath the compliance strategy permitted by NYSE American on Oct 22, 2020, which granted the Organization an extension for its continued listing till February 6, 2022. The Organization is not expected to submit an more strategy to NYSE American with regard to Part 1003(a)(i). Receipt of the see does not have an affect on the Company’s business, operations, money or liquidity affliction, or reporting specifications with the Securities and Exchange Commission.
About Birks Group Inc.
Birks Team is a leading designer of good jewelry, timepieces and gifts and operator of luxurious jewellery shops in Canada. The Enterprise operates 26 outlets beneath the Maison Birks brand in most main metropolitan marketplaces in Canada, one particular retail area in Calgary less than the Brinkhaus brand, one particular retail locale in Vancouver operated underneath the Graff model and one location in Vancouver under the Patek Philippe brand. Bijoux Birks high-quality jewellery collections are also out there via Mappin & Webb and Goldsmiths places in the United Kingdom in addition to quite a few jewelry vendors across North The united states. Birks was founded in 1879 and has develop into Canada’s premier retailer and designer of fantastic jewellery, timepieces and gifts. Added facts can be observed on Birks’ net web site, www.birks.com.
Clientele can program appointments on the internet at https://www.maisonbirks.com/en/digital-appointment. The Concierge Assistance is also obtainable by cellphone at +1 (855) 873-7373 and e-mail at [email protected] Shoppers can carry on to shop on the net 24/7 at MaisonBirks.com and profit from complimentary transport across Canada.
Forward Searching Statements
This press launch incorporates specified “forward-looking” statements. Provided such statements include numerous hazards and uncertainties, genuine benefits may vary materially from all those projected in the forward-on the lookout statements and no assurance can be supplied that we will satisfy the benefits projected in the ahead looking statements. These dangers and uncertainties consist of, but are not constrained to the following: (i) the magnitude and length of financial disruption as a consequence of the around the world COVID-19 outbreak, which include its effects on macroeconomic circumstances, usually, as effectively as its affect on the success of functions and financial condition of the Corporation and the buying and selling price tag of its shares, (ii) financial, political and industry conditions, which include the economies of Canada and the U.S., which could adversely influence the Company’s business, working outcomes or money situation, which include its revenue and profitability, via the affect of variations in the genuine estate marketplaces, changes in the fairness markets and decreases in client self esteem and the associated improvements in consumer spending patterns, the influence on retailer targeted traffic, tourism and profits (iii) the effects of fluctuations in foreign exchange fees, raises in commodity charges and borrowing charges and their related influence on the Company’s charges and charges (iv) the Company’s capability to keep and get sufficient resources of liquidity to fund its functions, to reach prepared income, gross margin and web profits, to continue to keep expenditures very low, to implement its small business strategy, sustain relationships with its major distributors, to mitigate fluctuations in the availability and selling prices of the Company’s products, to compete with other jewelers, to triumph in its marketing and advertising initiatives, and to have a productive customer support software (v) the Company’s ability to execute its strategic eyesight and (vi) the Company’s means to obtain compliance with the NYSE American’s continued listing specifications within the essential time frame. Information regarding variables that could result in precise success to differ materially are established forth under the captions “Risk Factors” and “Operating and Economical Critique and Prospects” and elsewhere in the Company’s Yearly Report on Type 20-F filed with the Securities and Exchange Commission on July 8, 2020 and subsequent filings with the Securities and Trade Commission. The Business undertakes no obligation to update or release any revisions to these forward-wanting statements to mirror events or circumstances after the date of this assertion or to mirror the prevalence of unanticipated occasions, other than as necessary by regulation.