MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
FinancialsNov 27, 2018
Sales Increase but Losses Widen for Birks
Same-store sales rose 4 percent but losses increased for the retailer, which is sinking money into a five-year turnaround plan.
An already-remodeled Birks store in Yorkdale, Ontario. Parent company Birks Group is in the early stages of a five-year turnaround plan that includes the renovation of its three flagship locations, in Toronto, Vancouver and Montreal.
Montreal—Canadian retailer Birks Group reported an uptick in same-store and total sales in its second quarter results released earlier this month.
Same-store sales for the 26-week period ended Sept. 29 were up 4 percent year-over-year.
Excluding sales from the company’s Toronto flagship store, which has been moved to a temporary location while the building it was in undergoes a renovation, comps rose 7 percent.
The jeweler reported a “significant” increase in sales of Birks-branded jewelry, engagement rings and wedding bands, as well as third-party brand watches. TAG Heuer, Patek Philippe, Rolex, Tudor and Breitling are among the brands the retailer carries.
Net sales totaled CA$68.7 million ($58.1 million), up 6 percent over last year.
The retailer attributed the increase in net sales to the reopening of its recently remodeled flagship store in Montreal, an increase in online sales and successful targeted marketing campaigns, though it took a hit from lower sales at stores still under construction, like the Toronto flagship.
Birks Group President and CEO Jean-Christophe Bédos called the successful reopening of the Montreal store a “promising sign of things to come,” as the retailer also is in the process of remodeling its flagship store in Vancouver and expects the Toronto store renovations to be done by the fourth quarter of this fiscal year. (Birks’ fiscal year runs April 1 to March 31.)
Gross profit dipped from 40 percent of net sales to 38.4 percent of net sales due to more sales of third-party brand watches and Birks doing promotions to get rid of inventory that’s not selling.
Operating loss widened from $5.9 million to $8.5 million.
Montreal-based Birks Group is in the early stages of a five-year turnaround plan announced in July that focuses on renovating flagship stores, upgrading its website and integrating it with the in-store experience, and emphasizing Birks-branded product.
Bédos said the company’s latest quarterly results are “reflective of this fact.”
“We are pleased with the sales growth experienced during the period, especially the performance of the underlying retail business, which benefited from the impact of the fully renovated Montreal flagship store … We remain confident that the execution of our strategic initiatives will lead to long-term value creation.”
Birks operates 26 stores under the Birks brand across Canada and a Brinkhaus store in Calgary, as well as one Patek Philippe and one Graff store in Vancouver.
The retailer used to own and operate
the Mayors chain of jewelry stores in Florida and Georgia but sold the chain to U.K company Aurum Holdings Ltd. in October 2017. Birks used the money from the sale to pay down debt and secure fresh financing.
Birks Group ranked No. 27 on National Jeweler’s list of North America’s top jewelry sellers in the 2018 State of the Majors report, falling just behind Swarovski and ahead of Kohl’s.
Birks Group ranked No. 27 on National Jeweler’s list of North America’s top jewelry sellers in the 2018 State of the Majors report, falling just behind Swarovski and ahead of Kohl’s.
More on Financials
The Latest
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
