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Birks Team Delivers Enterprise Update

MONTREAL–(Business WIRE)–Dec 11, 2020–

Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), right now provided a enterprise update.

As of December 11, 2020, 22 of the Company’s 29 shops throughout Canada are opened and serving consumers in accordance with the directives of community govt and general public health and fitness officers. As a final result of provincial limitations to deal with the “second wave” of the COVID-19 pandemic, the Company’s Winnipeg retailer is at the moment briefly shut for in-human being procuring right until additional notice and 6 of the Company’s Ontario suppliers, which includes its Bloor avenue flagship retailer, are also temporarily closed for in-human being searching, for what we hope to be a minimum amount of 4 months ending on December 22, 2020. Nevertheless, all of the afflicted merchants keep on being obtainable for Concierge Company (about the telephone) and curbside pickup.

On top of that, in get to much better serve its shoppers adhering to new and evolving constraints encompassing in-retail outlet browsing across the place, the Business is delighted to announce that it has added virtual appointments to its Concierge Service across Canada, providing personalised movie buying providers from house. Merchants at present below lockdown have been outfitted with the proper hardware to execute large-quality online video appointments and product presentations.

Mr. Jean-Christophe Bédos, President and Chief Govt Officer of Birks Group, commented: “For those clientele who desire to store from dwelling, our virtual concierge provider is capable to supply elevated guidance in excess of online video chat. Consumers will have the selection to guide a non-public appointment with a Maison Birks revenue qualified who can assist with every thing from figuring out that great getaway present to selecting an engagement ring.”

Birks Group also introduced that it has been given confirmation from the NYSE American LLC (“NYSE American”) on December 9, 2020 that the Corporation was not in compliance with the continued listing requirements set forth in Section 1003(a)(i) of the NYSE American Company Tutorial (the “Company Guide”). That part applies if a stated business has stockholders’ fairness of less than U.S. $2. million and has documented losses from continuing functions and/or web losses in two of its 3 most recent fiscal decades.

Birks Group can get back compliance beneath Area 1003(a)(i) of the Business Guidebook, as nicely as underneath Area 1003(a)(ii), as beforehand disclosed, beneath the compliance plan approved by NYSE American on October 22, 2020, which granted the Business an extension for its ongoing listing until February 6, 2022. The Organization is not demanded to post an additional program to NYSE American with respect to Area 1003(a)(i). Receipt of the discover does not have an impact on the Company’s organization, functions, money or liquidity affliction, or reporting demands with the Securities and Exchange Commission.

About Birks Group Inc.

Birks Group is a primary designer of fine jewellery, timepieces and gifts and operator of luxurious jewelry shops in Canada. The Firm operates 26 stores under the Maison Birks brand name in most significant metropolitan marketplaces in Canada, 1 retail area in Calgary beneath the Brinkhaus brand name, one particular retail place in Vancouver operated under the Graff manufacturer and 1 location in Vancouver underneath the Patek Philippe model. Bijoux Birks great jewellery collections are also available by way of Mappin & Webb and Goldsmiths areas in the United Kingdom in addition to numerous jewelry suppliers throughout North The usa. Birks was started in 1879 and has grow to be Canada’s premier retailer and designer of high-quality jewellery, timepieces and gifts. Added data can be located on Birks’ net website, www.birks.com.

Shoppers can schedule appointments on line at https://www.maisonbirks.com/en/virtual-appointment. The Concierge Services is also obtainable by cellphone at +1 (855) 873-7373 and e-mail at [email protected]. Clients can proceed to shop on the internet 24/7 at MaisonBirks.com and benefit from complimentary shipping across Canada.

Ahead On the lookout Statements

This press release is made up of sure “forward-looking” statements. Offered this kind of statements involve a variety of challenges and uncertainties, actual success may possibly vary materially from all those projected in the ahead-looking statements and no assurance can be supplied that we will meet up with the final results projected in the forward hunting statements. These challenges and uncertainties involve, but are not constrained to the adhering to: (i) the magnitude and size of economic disruption as a consequence of the throughout the world COVID-19 outbreak, together with its effects on macroeconomic conditions, usually, as nicely as its influence on the results of operations and fiscal condition of the Corporation and the investing rate of its shares, (ii) financial, political and market conditions, like the economies of Canada and the U.S., which could adversely impact the Company’s enterprise, running effects or monetary situation, like its income and profitability, by way of the influence of changes in the authentic estate marketplaces, adjustments in the fairness markets and decreases in shopper confidence and the connected modifications in consumer shelling out styles, the effect on store targeted visitors, tourism and sales (iii) the effects of fluctuations in foreign exchange premiums, raises in commodity price ranges and borrowing expenditures and their linked impact on the Company’s fees and fees (iv) the Company’s capacity to sustain and obtain ample sources of liquidity to fund its functions, to realize prepared product sales, gross margin and web revenue, to keep costs small, to apply its business enterprise tactic, maintain interactions with its key vendors, to mitigate fluctuations in the availability and prices of the Company’s products, to compete with other jewelers, to thrive in its marketing initiatives, and to have a thriving customer company software (v) the Company’s skill to execute its strategic eyesight and (vi) the Company’s ability to obtain compliance with the NYSE American’s ongoing listing criteria in just the required time body. Information concerning elements that could result in actual final results to differ materially are set forth below the captions “Risk Factors” and “Operating and Money Evaluation and Prospects” and somewhere else in the Company’s Once-a-year Report on Variety 20-F filed with the Securities and Trade Fee on July 8, 2020 and subsequent filings with the Securities and Exchange Commission. The Organization undertakes no obligation to update or launch any revisions to these forward-searching statements to mirror activities or conditions following the date of this assertion or to mirror the event of unanticipated events, besides as necessary by legislation.

View resource edition on businesswire.com:https://www.businesswire.com/news/house/20201211005467/en/

Get in touch with: Corporation:

Katia Fontana

Vice President and Main Fiscal Officer

(514) 397-2592

For all push and media inquiries:

OverCat Communications

Audrey Hyams Romoff,[email protected], (647) 223-9970

Gillian DiCesare,[email protected], (647) 223-5590

Chelsea Brooks,[email protected], (289) 221-6006

Keyword: NORTH America CANADA

Marketplace Keyword: OTHER Production Luxury Women of all ages Office Retailers Men SPECIALTY Production Purchaser RETAIL

Resource: Birks Group Inc.

Copyright Company Wire 2020.

PUB: 12/11/2020 04:30 PM/DISC: 12/11/2020 04:30 PM

http://www.businesswire.com/information/residence/20201211005467/en