Birks Group reports FY24 EPS (C$0.24) vs (C$0.40) last year

Reports FY24 revenue C$185.3M vs C$163M last year. Comparable store sales increased by 7.5% in fiscal 2024 compared to fiscal 2023, mainly driven by strong third party branded timepiece sales and by an increase in average sales transaction value, partially offset by a decrease in Birks product brand sales. Jean-Christophe Bedos, President and Chief Executive Officer of Birks Group, commented: “During fiscal 2024, we achieved a 13.7% growth in net sales and a 7.5% growth in comparable store sales. Our retail performance and our product offerings, particularly our third-party branded watches and jewelry offering, have demonstrated their strength by outperforming the same period last year. We are pleased with the store renovation projects that were undertaken last year at our Chinook and Laval stores, which resulted in higher sales post opening. We made progress towards achieving our strategic initiatives in fiscal 2024, and we continued to invest in our product offering and enhance our customer experience.”