Birks’s Full-Year Loss Narrows

Canada-based jeweler Birks Group posted a smaller loss for the full fiscal year, thanks in part to its acquisition of European Boutique.

The company recorded a net loss of CAD 3.4 million ($2.4 million) for the 12 months that ended March 28, it said Wednesday. That compared to the CAD 12.8 million ($9.1 million) loss the company recorded in fiscal 2025.

Sales rose 16% to CAD 205.4 million ($145.7 million), while comparable-store sales increased 2.6%. The growth received a boost from the acquisition of European Boutique and increased sales of Birks branded and third-party jewelry, though this was partly offset by a decline in third-party watch sales resulting from a brand’s exit from one retail store.

“Our retail performance has outperformed over the prior year due to the strategic acquisition of European Boutique along with organic growth, particularly with our Birks branded jewelry,” said interim CEO Niccolò Rossi di Montelera. “We continue to focus on generating profitable growth in our Birks brand, including a new Birks mono-brand store, which is planned to open in the fall of 2026 in Vancouver’s newly developed Oakridge mall.”

Image: A Birks store in Toronto, Canada. (Shutterstock)