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Revenue at Birks Group rose in its first fiscal half as the Canadian retailer’s recent purchase of diamond jeweler European Boutique paid off.
Sales grew 16% year on year to CAD 93.1 million ($67.4 million) for the six months that ended September 27, Birks said last week. Same-store sales — those at locations open for more than a year — increased 6% from the same period of 2024.
The company partially attributed the rise to the addition of the Canada-based European Boutique brand, which it bought for CAD 9 million ($6.6 million) in July. Increased sales of Birks’s own branded jewelry, as well as third-party branded jewelry and timepieces, also aided revenue, as did spikes in both sales volume and average transaction value.
Birks reported a net loss of CAD 2.6 million ($1.9 million) for the period, an improvement from its CAD 3.1 million ($2.2 million) net loss a year earlier.
“Our net sales…and comparable store sales for the first half [of the fiscal year] are higher than the corresponding period [a year ago], due in part to the acquisition of the European business, but also due to our strong retail performance, which speaks to the strength of our product offerings, both in terms of our Birks-branded products and our third-party branded watches and jewelry,” said Niccolò Rossi di Montelera, the company’s executive chairman of the board and interim CEO.
Image: A Birks store in Toronto, Canada. (Shutterstock)
