Birks Group Inc. Reports Mid-Year Fiscal 2026 Results

Core Insights - Birks Group Inc. reported a net sales increase of 16.2% to $93.1 million for the twenty-six-week period ended September 27, 2025, compared to the same period in the previous year [2][4] - The growth in sales was driven by the acquisition of European Boutique and strong performance in third-party branded timepieces and Birks branded jewelry [2][4] - Comparable store sales rose by 6.3%, indicating robust retail performance across all product categories [2][4] Financial Performance - Gross profit for the period was $36.5 million, a 16.7% increase from $31.3 million in the prior year, maintaining a gross profit margin of 39.2% [2][4] - Selling, General & Administrative (SG&A) expenses increased to $33.0 million, or 35.4% of net sales, up from $27.8 million, primarily due to the acquisition and higher sales volume [5][4] - The company reported an operating loss of $0.2 million, an improvement from a loss of $0.3 million in the previous year [8] Acquisition Impact - The acquisition of European Boutique contributed significantly to the sales increase, adding $2.6 million to SG&A expenses [5][4] - The integration of European stores has been highlighted as a successful effort by the company, contributing to overall growth [3] Market Position - Birks Group operates 17 stores under the Maison Birks brand and various other luxury brands across Canada, positioning itself as a leading designer and retailer of fine jewelry and timepieces [6] - The company has been in operation since 1879, establishing a strong brand presence in the luxury retail market [6]