BGI - Birks Group FY 2023 holiday period sales fall on customer purchase delays

• Birks Group ( NYSE: BGI ) on Monday announced a fall in FY 2023 holiday period sales, attributing the performance to delayed purchases by customers.
• The designer of jewelry and watches said its comparable store sales for the 9 weeks ended Jan. 1, 2023 fell 3.2% Y/Y.
• In comparison, the company had posted an 18.4% jump in comparable store sales for the FY 2022 holiday period.
• "The FY2023 Holiday Period sales performance was impacted by softer November results which we attribute to consumer prudence, as customers delayed purchases amidst an uncertain macroeconomic backdrop," BGI said in a statement .
• The company added that the FY 2023 holiday period sales performance was equivalent to an increase in comparable store sales of 15.3% to the pre-COVID FY 2020 holiday period.
• Birks Group ( BGI ) stock earlier closed +0.3% at $7.51.

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