This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Birks & Mayors Inc. Reports A 5% Increase In Holiday Sales

Birks & Mayors Inc. (AMEX: BMJ) (the “Company”) announced today that net sales during the fiscal 2012 holiday season (for the period from October 30, 2011 through December 24, 2011) increased by 5% to $79.5 million compared to net sales of $75.5 million during last year’s holiday season (for the period from October 31, 2010 through December 25, 2010). The $4.0 million increase in net sales was driven by an increase in comparable store sales of 3% and higher revenues related to precious metal refining services offered to our customers in Canada, partially offset by $0.6 million of lower sales related to translating the sales of the Company’s Canadian operations into U.S. dollars with a relatively weaker Canadian dollar. Comparable store sales during the holiday season (which include stores open in the same period in both the current and prior year and at constant exchange rates) increased by 3% on a consolidated basis with comparable store sales in Canada increasing by 4% and U.S. comparable store sales growing by 2%. The stronger sales results in both Canada and the U.S. reflect an increase in the average sale.

Thomas A. Andruskevich, President and Chief Executive Officer commented, “The holiday season began with good sales momentum, however, during the final weeks before Christmas we experienced strong declines in customer traffic in our stores. As such, our sales increases during the holiday period were somewhat softer than what we would have liked to see. However, we continued to stay true to our merchandising and marketing strategies which allowed us to increase our gross margin and as a result, we expect to deliver improved operating performance over the prior holiday period. As we enter our fourth quarter, we will continue to focus on executing those strategies that have been generating increases in sales and gross profit while continuing to manage the level and productivity of our inventory and control expenses and capital expenditures. As always, we will continue to deliver on our core values of providing superior customer service and maintaining strong client relationships.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs