Birks & Mayors (BGI) has released an update.
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Birks Group Inc. experienced a robust fiscal year in 2024, with a notable 13.7% increase in net sales and a 7.5% increase in comparable store sales, largely fueled by the success of third-party branded watches and jewelry. Despite a challenging economic climate, the company reported positive operating income and a significant improvement in gross profit, though a slight decrease in gross profit percentage due to sales mix was noted. The financial year also saw strategic store renovations contributing to heightened sales figures, demonstrating Birks Group’s resilience and commitment to growth amidst market pressures.
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