Birks & Mayors Post Increase in Holiday Sales
January 13, 10
Birks & Mayors posted a sales
increase of 6% this holiday season
Birks & Mayors Inc. earned $69.7 million in net sales this holiday season, a 6 percent increase compared to their 2008 figures, the company reported Tuesday.
The $5.5 million increase was partly attributed to sales of the company's Canadian operations having been converted into U.S. dollars, with a relatively stronger Canadian dollar.
Comparable store sales during the holiday season were flat with last year's sales, as a 6 percent increase in comparable store sales in
"We are encouraged by the increase in sales in our Canadian market during the holiday sales period. However, sales in the U.S. continued to be negatively impacted by the weakness in the economy, especially in the Florida market,” said President and CEO Thomas A. Andruskevich. “As we enter our final fiscal quarter, we will continue to carefully manage the level and productivity of our inventory, reduce expenses wherever possible and limit capital expenditures all with an aim to optimize cash flow. In addition, we will continue focusing on our core values of providing superior customer service and maintaining strong client relationships.”
Birks & Mayors Inc. operates luxury jewelry stores across