Birks Group Inc. Suggests New Auditor Appointments
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2025
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Source: Newsfilter
Appointment of New Auditors: Birks Group Inc. has recommended Grant Thornton as the new auditors for the fiscal year ending March 28, 2026, replacing KPMG, which has served since 2000. Shareholders will vote on this appointment at the annual general meeting on September 18, 2025.
Proxy Voting Information: Shareholders are informed that voting by proxy will be for the appointment of Grant Thornton and the authorization of the Board to set their remuneration, without the issuance of a new proxy form for the meeting.
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About BGI
Birks Group Inc. is a designer of fine jewelry and an operator of luxury jewelry, timepieces and gifts retail stores in Canada. The Company operates through two segments: Retail and Other. Its Retail segment operates over 17 stores across Canada under the Maison Birks brand, one retail location in Montreal under the Birks brand, one retail location in Montreal under the TimeVallee brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under the Graff brand, one retail location in Vancouver under the Patek Philippe brand, and three retail locations in Laval, Ottawa and Toronto under the Breitling brand. Its Other segment consists primarily of the e-commerce business, wholesale business and gold exchange business. Its collections are available at Mappin & Webb and Goldsmiths in the United Kingdom, in addition to several jewelry retailers across North America.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Birks Group Reports 11.8% Sales Growth for FY2026 Holiday Period
- Sales Performance Boost: Birks Group reported an 11.8% increase in net sales for the FY2026 holiday period compared to FY2025, primarily driven by the acquisition of European Boutique luxury timepieces and jewelry stores, showcasing the company's strong performance in the luxury market.
- Comparable Store Sales Growth: The comparable store sales increased by 2.5% during the FY2026 holiday period versus FY2025, reflecting robust market demand for branded timepieces and Birks branded jewelry, further solidifying the company's competitive edge in retail and e-commerce.
- Strategic Acquisition Impact: The successful implementation of the European Boutique acquisition not only propelled sales growth but also enhanced Birks' brand influence in the luxury market, indicating the company's proactive strategy in expanding market share.
- Management Outlook: Executive Chairman Niccolò Rossi di Montelera noted that the strong sales results during the holiday period will lay the groundwork for future customer service and market expansion, demonstrating the company's confidence in sustained growth.
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Birks Group Reports 16.2% Sales Growth in H1 Fiscal 2026
- Significant Sales Growth: Birks Group reported net sales of CAD 93.1 million for the 26-week period ending September 27, 2025, reflecting a CAD 13.0 million increase or 16.2% year-over-year, primarily driven by the acquisition of European luxury business and increased sales of third-party branded timepieces.
- Comparable Store Sales Rise: Comparable store sales increased by 6.3% compared to the same period last year, indicating strong performance across all product categories, particularly in third-party branded watches and Birks branded jewelry, which enhances market competitiveness.
- Stable Gross Margin: Total gross profit reached CAD 36.5 million, representing 39.2% of net sales, consistent with 39.0% in the prior year, demonstrating a positive impact on profitability from increased sales volume following the acquisition.
- Increased SG&A Expenses: Selling, general and administrative expenses amounted to CAD 33.0 million, or 35.4% of net sales, up 5.2% from the previous year, primarily due to the acquisition of European operations and increased personnel costs driven by higher sales volume.
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