Montreal Relaunch Boosts Birks Results

RAPAPORT... Birks Group's sales grew in the six months to September 29as the retailer opened its renovated flagship store in Montreal, Canada.Sales rose 6% to CAD 68.7 million ($51.9 million) in thefiscal first half at the jeweler's continuing operations, which exclude theMayors division it sold to Aurum Holdings in August 2017. Comparable-storesales - which further eliminate branch openings such as the one in Montreal inJune - increased 4%, the company reported earlier this month. Birks launched the redesigned Montreal branch following afour-month closure. It has also been refurbishing its main Toronto store, which it has operated out of a temporary location for several months, resulting in adecline in sales volume. The company included that weakened Toronto operation in itscomparable-store sales. Excluding it, comparable-store sales would have jumped 7%,it noted. "The company continues to focus on the execution of ourfive-year strategic plan and its key initiatives," said Birks CEOJean-Christophe B?(C)dos. "The results of the first half of [this fiscal year], asexpected, are reflective of this fact as we continue to invest in the coregrowth areas we have identified." Birks also noted significant sales increases in brandedjewelry and in bridal categories, as well as higher sales of third-party brandedwatches. Including the Mayors division, half-year sales fell 57% fromCAD 159.2 million ($120.3 million) a year ago, and the company's net lossincreased 95% to CAD 10.8 million ($8.2 million).Image: The "bridal bar" at Birks' renovated store in Montreal, Canada. (CNW Group/Birks Group)