Birks Group Provides Business Update

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The Company’s 29 stores across Canada are open and serving clients in accordance with the directives of local government and public health officials.

In accordance with current provincial restrictions to address the “second wave” of the COVID-19 pandemic, six of the Company’s Ontario stores, including its flagship Bloor Street store, and its Winnipeg store in Manitoba, have been temporarily closed for in-person shopping.  As a result of further provincial restrictions that were recently announced, required temporary closings for in-person shopping have been extended to all of the Company’s Ontario stores starting on December 26, 2020.  We currently expect the required closings to last until January 23, 2021. In addition, starting December 25, 2020, all Québec stores will be temporarily closed for in-person shopping until January 10, 2021. The Company’s remaining 13 stores in British Columbia, Alberta and Saskatchewan remain open for in-store shopping.

Birks Group expects that its revenue for the month of January 2021 will be negatively impacted by these stores closures and, as a result of these developments, the Company is implementing measures to mitigate the financial impact of these closures, including reducing operating expenses and extending payment terms with various stakeholders.

Curbside pick up will be available by appointment only at the following locations affected by the government restrictions:

Ontario

  • Maison Birks Downtown Toronto – Bloor Street
  • Maison Birks Yorkdale Shopping Centre
  • Maison Birks First Canadian Place
  • Maison Birks Sherway Gardens
  • Maison Birks Rideau Centre

Quebec

  • Maison Birks Sainte Catherine Street Montréal

“While some of our boutiques may be temporarily closed for in-store shopping, there are still a number of ways for clients to access Maison Birks’ elevated client service,” says Jean-Christophe Bédos, President and CEO of Birks Group. “Through our Concierge Service, virtual appointments and e-commerce, we are available for our clients and able to help them shop safely during this time. MaisonBirks.com is the #1 e-commerce destination in Canada for luxury watches and jewellery. We remain committed to, and recently invested in technological equipment for the purpose of, offering the highest possible quality in individual video shopping to our clients.”

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