Tom Andruskevich Announces Plans To Resign From Birks & Mayors Inc. In Spring 2012; Will Continue In New Board Role As Vice-Chairman
You, my colleagues and friends, are the heart and soul of this Company. As I have frequently said, you are the ones who bring our brands to life. You put a face on all the reasons we've been so successful. You and your predecessors have created 132 years of trust and heritage that our Company and its brands enjoy today. You must always remember the important role each and everyone of you play in our success.
YOU are what I will miss most!
Finally, I want to say what an honor it has been to have led a company like Birks & Mayors and to have had the opportunity to impact these iconic brands. I want to thank our Board of Directors and Shareholders for their support. Special tribute goes to our Chairman, Lorenzo Rossi di Montelera, for his guidance and partnership over these years. He has always been unwavering in his passion for the Birks brand and was ever steady during the more difficult times. His friendship means a great deal."
About Birks & Mayors Inc. Birks & Mayors is a leading retailer with 61 luxury jewellery stores in Canada and the United States. The Company operates 32 stores under the Birks brand in most major markets in Canada and 26 stores under the Mayors brand in Florida and Georgia, two retail locations in Calgary and Vancouver under the Brinkhaus brand, and one retail location in Orlando under the Rolex brand. Birks was founded in 1879 and developed over the years into Canada's premier retailer, designer and manufacturer of fine jewellery, timepieces, sterling and plated silverware and gifts. Visit www.birks.com.Forward Looking Statements This press release contains certain "forward-looking" statements concerning the Company's performance and strategies, including, that the Company is poised for further growth and to achieve new heights and the intent to further develop the Birks brand and product assortment as well as expansion plans abroad. Because such statements include various risks and uncertainties, actual results might differ materially from those projected in the forward-looking statements and no assurance can be given that the Company will meet the results projected in the forward-looking statements. These risks and uncertainties include, but are not limited to the following: (i) economic, political and market conditions, including the economies of the U.S. and Canada, which could adversely affect our business, operating results or financial condition, including our revenue and profitability, through the impact of changes in the real estate markets (especially in the state of Florida), changes in the equity markets and decreases in consumer confidence and the related changes in consumer spending patterns, the impact on store traffic, tourism and sales; (ii) the impact of fluctuations in foreign exchange rates, increases in commodity prices and borrowing costs and their related impact on the Company's costs and expenses; and (iii) the Company's ability to maintain and obtain sufficient sources of liquidity to fund its operations, to achieve planned sales, gross margin and net income, to keep costs low, to implement its business strategy, maintain relationships with its primary vendors, to mitigate fluctuations in the availability and prices of the Company's merchandise, to compete with other jewelers, to succeed in its marketing initiatives, and to have a successful customer service program. Information concerning factors that could cause actual results to differ materially are set forth in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on July 8, 2011 and subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. CONTACT INFORMATION Eva Hartling Director, Public Relations & Events Birks & Mayors Inc. 1-514-823-7022 firstname.lastname@example.org SOURCE BIRKS & MAYORS INC.
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