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luxury jewelry Retailer Birks & Mayors Inc. Reports an 8% Increase ...

by Katy

Venetian Jewelry Importer, Direct from Venice, Sparkles with Niche Custom Product Line

In an effort to satisfy growing client demand, Tom Dickenson and his company, Direct from Venice, have reached exclusive agreement with a classically trained expert Murano glassmaster to sell individual one-of-a-kind pieces of the artist’s own design, as well as to design custom jewelry according to specific client request. This represents an unprecedented entrance into [...]

Birks & Mayors Inc. (NYSE AMEX: BMJ) (the “Company”) announced today that net sales during the fiscal 2011 holiday season (for the period from October 31, 2010 through December 25, 2010) increased by 8% to $75.5 million compared to net sales of $69.7 million during last year’s holiday season (for the period from November 1, 2009 through December 26, 2009). The $5.6 million increase in net sales was driven by an increase in comparable store sales, $1.9 million of higher sales related to translating the sales of the Company’s Canadian operations into U.S. dollars with a relatively stronger Canadian dollar and $1.1 million of sales from two new stores, net of the closure of four stores. 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 4% compared to last year’s holiday season sales with comparable store sales in Canada increasing by 7% and U.S. comparable store sales growing by 2%. The stronger Canadian sales results reflect an increase in sales transactions primarily related to an increase in store traffic while the increase in the U.S. reflects a higher average sales transaction.

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