Birks Slides During Holiday Season

RAPAPORT... Birks Group's November and December sales declined 4% due toongoing renovations at two flagship stores and weak consumer sentiment in Canada, the jeweler reported Friday. The Montreal-based company noted comparable store sales grew 2% during the period, reflecting growth in locations that were open for more than a year and thus discounting the impact of the stores undergoing renovations. Birks Group president and CEO Jean-Christophe B?(C)dosattributed the improvement to increased sales of Birks-branded products,targeted marketing campaigns and a rise in e-commerce sales. "As we enter the final quarter of our fiscal year, we willmaintain our focus on our short-term and long-term growth strategies, namelythe renovation of our flagship stores, the global expansion of the Birksproduct brand and the development of our e-commerce and wholesale businesses;the execution of which will contribute to long-term sales and profitabilitygrowth," B?(C)dos stated. As part of that program, Birks last year signed a partnership deal with online retailer Luxify to sell rareCanadian polished diamonds to the Asian market. The brand also received a boostin 2017 when Prince Harry's fianc?(C)e Meghan Markle wore the company's opal earrings in her official engagement photos, aswell as its Snowflake earrings to lunch with the Queen.