Birks Group Announces Actions to Address Financial Impacts of COVID-19
Birks Group Inc. (BGI)
NASDAQ:AMEX Investor Relations:
maisonbirks.com/en/investors
Company Research
Source: Business Wire
MONTREAL--(BUSINESS WIRE)--Birks Group Inc. (the “Company” or “Birks Group”) (NYSE American: BGI) announced today that the COVID-19 pandemic has adversely impacted, and is expected to continue to adversely impact, the Company’s operations for at least as long as the Company’s stores remain closed. As previously announced, the Company’s stores have been closed across Canada since March 18, 2020. As a result of these store closures, the Company has experienced significant declines in sales, including a year-over-year decline of approximately 70% for the period from March 18 to April 16, 2020. Government officials and public health professionals at both the Federal and Provincial levels in Canada have recently extended store closures and social distancing guidelines to protect Canadians, and therefore the Company’s stores will remain closed until further notice in accordance with government directives. The Company continues to offer concierge services by telephone and to operate its
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