Financial Reporting

Holiday comps up 3% for Birks & Mayors

Jan 13, 2012

Montreal, Quebec-- Comparable store sales during the holiday season rose 3 percent for Birks & Mayors Inc., including 2 percent in the chain’s U.S. stores and 4 percent in Canada, the company reported earlier this week.

Net sales for the period from Oct. 30 to Dec. 24 were up 5 percent to $79.5 million, compared to $75.5 million during last year’s holiday season (Oct. 31 to Dec. 25). The increase in same-store sales in both the United States and Canada is attributable to higher average sales.

President and CEO Thomas A. Andruskevich said while the holiday season began strongly, customer traffic declined sharply in the final weeks before Christmas, resulting in lower sales for the season as a whole.

As previously announced, Andruskevich will be resigning as president CEO of Birks & Mayors in the spring. His successor is Jean-Christophe Bédos, previously of Boucheron.

Based in Montreal, Birks & Mayors Inc. operates 32 stores under the Birks brand in Canada and 26 stores under the Mayors brand in the southeastern United States, as well as one store under the Rolex brand name and two Brinkhaus stores.

The company ranks No. 23 on National Jeweler’s 2011 list of $100 Million Supersellers.

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