Birks Group Inc., reported on Tuesday its financial results for the fiscal year ended March 28, 2026, saying net sales were $205.4 million, an increase of $27.6 million or 15.5%, compared to the fiscal year ended March 29, 2025.
Comparable store sales for fiscal 2026 increased by 2.6% compared to fiscal 2025.
The increase in net sales is attributable in part, to the acquisition of the luxury timepieces and jewelry retail activities of European Boutique, as well as an increase in both Birks branded jewelry and third party branded jewelry, explained Birks.
It reported a gross profit of $79.2 million in fiscal 2026, compared to $66.3 million in fiscal 2025, an increase of $12.9 million, due to increased sales volume attributable in part, to the European Boutique Acquisition, an increase in sales of Birks branded jewelry and third-party branded jewelry, and a foreign exchange gain due to the weakening of the U.S. dollar. Gross profit as a percentage of sales for fiscal 2026 was 38.5%, an increase of 120 basis points from the gross profit as a percentage of sales of 37.3% for fiscal 2025 primarily as a result of the foreign exchange gain.
Niccolò Rossi di Montelera, Executive Chairman of the Board and Interim Chief Executive Officer of Birks Group, said: “During fiscal 2026, we achieved 15.5% growth in net sales and a 2.6% growth in comparable store sales. Our retail performance has outperformed over the prior year due to the strategic acquisition of European Boutique along with organic growth, particularly with our Birks branded jewelry. We continue to focus on generating profitable growth in our Birks brand, including a new Birks mono-brand store which is planned to open in the fall of 2026 in Vancouver’s newly developed Oakridge mall.
“I am particularly pleased with the successful integration of the European Boutique Acquisition, our recent refinancing of our term loan with Gordon Brothers and the amendment and extension of our revolver facility with Wells Fargo Canada Corporation, as well as the performance of our Birks branded jewelry business. These achievements would not have been possible without the unwavering commitment and dedication of our employees.”
The company recognized a net loss for fiscal 2026 of $3.4 million, or $0.17 per share, compared to a net loss for fiscal 2025 of $12.8 million, or $0.66 per share.
Just a few days ago, it was revealed that Global asset experts Gordon Brothers have provided strategic financing to Birks Group Inc., one of Canada’s premier designers and retailers of fine jewelry, watches and gifts.
With more than a century of experience in the jewelry industry, Gordon Brothers said it partnered with Birks Group to deliver a tailored capital solution that will support the company’s growth strategy, providing enhanced liquidity and flexibility as the retailer builds on its strong market position and long-standing heritage. In addition to the financing package, Gordon Brothers said it will continue to provide strategic expertise, leveraging its deep retail and asset-focused capabilities as the brand’s needs evolve.
Birks Group is a leading designer of fine jewelry, and an operator of luxury jewelry, timepieces and gifts retail stores in Canada. The company currently operates 32 store locations, including: 17 store locations under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Montreal under the Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under the Patek Philippe brand, one retail location in Vancouver under the Chaumet brand, four retail locations in Laval, Ottawa and Toronto under the Breitling brand, one retail location in Toronto under the Omega brand, one retail location in Toronto under the Montblanc brand, and four retail locations in the Greater Toronto Area under the European Boutique brand. Birks was founded in 1879.
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