Birks & Mayors Q1 Sales -3% to $68.8 Million

(IDEX Online News) – Birks & Mayors net sales during the first quarter ended June 30 were $68.8 million, a 3 percent year-over-year decrease although comparable store sales increased 3 percent during the same period.

The North American jewelry retailer said the $2.4 million decrease in sales was primarily a result of operating ten less stores.

In the first quarter of the prior fiscal year, Birks & Mayors operated an additional seven retail stores and three temporary retail outlets.

An additional $1.7 million difference was created by a weaker Canadian dollar, the firm said.

The comparable store sales increase reflects a 7 percent increase in sales from the stores in Canada while comparable store sales in the U.S. decreased by 2 percent.