Birks Group reports that its comp sales have increased by 3 per cent in the first half of the year, which ended on September 26.
Canadian comps grew by 10 per cent but US sales dropped by 3 per cent as a result of less purchases by tourists because of the strong U.S. dollar.
Net sales for the first half were down by $5.7 million from last year, totaling $134 million, due to adverse foreign exchange rates. The net income for the first half totaled $0.8 million, which was better than last year’s net loss of $4 million.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
