June 15, 2024

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Birks Team Supplies Company Update

MONTREAL–(Enterprise WIRE)–Birks Team Inc. (the “Company” or “Birks Group”) (NYSE American: BGI), currently furnished a organization update.

As of December 11, 2020, 22 of the Company’s 29 suppliers throughout Canada are opened and serving shoppers in accordance with the directives of area government and general public well being officers. As a consequence of provincial limitations to handle the “second wave” of the COVID-19 pandemic, the Company’s Winnipeg store is at present briefly closed for in-individual procuring till more notice and six of the Company’s Ontario outlets, including its Bloor road flagship store, are also temporarily shut for in-man or woman browsing, for what we anticipate to be a minimal of four weeks ending on December 22, 2020. Even so, all of the influenced retailers stay available for Concierge Company (above the telephone) and curbside pickup.

Moreover, in buy to greater provide its buyers adhering to new and evolving restrictions surrounding in-retail outlet procuring throughout the region, the Corporation is delighted to announce that it has included virtual appointments to its Concierge Service across Canada, supplying customized video clip purchasing providers from property. Shops presently under lockdown have been equipped with the suitable components to accomplish higher-good quality online video appointments and item shows.

Mr. Jean-Christophe Bédos, President and Chief Government Officer of Birks Group, commented: “For these customers who prefer to store from property, our virtual concierge support is ready to provide elevated help more than video clip chat. Clientele will have the option to e book a private appointment with a Maison Birks sales specialist who can guide with every thing from pinpointing that fantastic holiday present to deciding upon an engagement ring.”

Birks Group also introduced that it has received affirmation from the NYSE American LLC (“NYSE American”) on December 9, 2020 that the Firm was not in compliance with the ongoing listing criteria set forth in Section 1003(a)(i) of the NYSE American Company Manual (the “Company Guide”). That segment applies if a listed organization has stockholders’ equity of less than U.S. $2. million and has claimed losses from continuing functions and/or web losses in two of its 3 most latest fiscal years.

Birks Team can regain compliance underneath Portion 1003(a)(i) of the Enterprise Information, as effectively as beneath Portion 1003(a)(ii), as beforehand disclosed, less than the compliance approach authorized by NYSE American on October 22, 2020, which granted the Company an extension for its ongoing listing till February 6, 2022. The Company is not essential to post an added prepare to NYSE American with respect to Section 1003(a)(i). Receipt of the notice does not have an affect on the Company’s enterprise, functions, monetary or liquidity situation, or reporting needs with the Securities and Exchange Commission.

About Birks Group Inc.

Birks Team is a foremost designer of great jewelry, timepieces and gifts and operator of luxury jewellery outlets in Canada. The Corporation operates 26 shops underneath the Maison Birks brand name in most major metropolitan marketplaces in Canada, a single retail spot in Calgary below the Brinkhaus model, just one retail spot in Vancouver operated below the Graff brand name and a person place in Vancouver below the Patek Philippe brand. Bijoux Birks fantastic jewellery collections are also readily available by Mappin & Webb and Goldsmiths spots in the United Kingdom in addition to a number of jewelry retailers throughout North America. Birks was founded in 1879 and has turn out to be Canada’s leading retailer and designer of great jewellery, timepieces and gifts. Supplemental data can be identified on Birks’ world wide web site, www.birks.com.

Purchasers can routine appointments online at https://www.maisonbirks.com/en/digital-appointment. The Concierge Service is also offered by telephone at +1 (855) 873-7373 and e mail at [email protected]. Purchasers can keep on to shop on the net 24/7 at MaisonBirks.com and gain from complimentary shipping and delivery across Canada.

Ahead Searching Statements

This push launch includes selected “forward-looking” statements. Supplied these kinds of statements involve several risks and uncertainties, genuine effects could possibly differ materially from people projected in the ahead-seeking statements and no assurance can be supplied that we will satisfy the final results projected in the forward on the lookout statements. These risks and uncertainties incorporate, but are not restricted to the next: (i) the magnitude and size of economic disruption as a end result of the around the world COVID-19 outbreak, which includes its affect on macroeconomic conditions, usually, as very well as its effects on the benefits of operations and economical problem of the Firm and the buying and selling cost of its shares, (ii) economic, political and market conditions, like the economies of Canada and the U.S., which could adversely impact the Company’s business, functioning outcomes or economical condition, including its revenue and profitability, as a result of the influence of variations in the serious estate markets, modifications in the fairness markets and decreases in buyer self-assurance and the associated alterations in shopper investing styles, the impact on retail store visitors, tourism and product sales (iii) the effects of fluctuations in international trade fees, increases in commodity rates and borrowing fees and their related influence on the Company’s prices and bills (iv) the Company’s capability to keep and get adequate sources of liquidity to fund its operations, to attain prepared revenue, gross margin and internet cash flow, to continue to keep charges lower, to put into practice its business enterprise tactic, maintain relationships with its key suppliers, to mitigate fluctuations in the availability and charges of the Company’s products, to compete with other jewelers, to realize success in its marketing and advertising initiatives, and to have a thriving customer support plan (v) the Company’s means to execute its strategic eyesight and (vi) the Company’s skill to achieve compliance with the NYSE American’s ongoing listing requirements within the required time frame. Info relating to variables that could induce real final results to differ materially are established forth below the captions “Risk Factors” and “Operating and Economic Evaluate and Prospects” and somewhere else in the Company’s Annual Report on Variety 20-F submitted with the Securities and Trade Fee on July 8, 2020 and subsequent filings with the Securities and Trade Commission. The Corporation undertakes no obligation to update or launch any revisions to these forward-searching statements to replicate functions or situation just after the date of this assertion or to mirror the event of unanticipated situations, other than as demanded by regulation.