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women’s jewelry The company also recorded a US$3.2 million gain in 2016 for the sale of its corporate sales division.Excluding the 2016 charge and the gain, Birks posted net income of US$3 million, or US17 cents per share, compared with a net loss of US$3.1 million (US17 cents per share) in fiscal 2015.Same store sales, a key retail metric that tallies volume at locations open for more than a year, rose three per cent in constant currency compared with fiscal 2015.Net sales fell to US$285.8 million for fiscal 2016 from US$301.6 million in 2015 due to a weaker Canadian dollar. Excluding currency factors, sales rose US$4.4 million in fiscal 2016 on a constant currency basis.The news comes as Birks and other jewelers grapple with a changing marketplace, spurred by a rise in online luxury jewelry sales.While the online fine jewelry market accounts for just four to five per cent of global jewelry sales, according to Dublin based firm Research and Markets, it is growing quickly and is expected to capture 10 per cent of the market by 2020.see online sales as a complement to the business rather than a threat to bricks and mortar stores, B said.Birks is working to expand its online presence from a current two per cent of overall revenue as it concurrently works to improve stores https://www.cheapjewelry2018.com/, and has renovated about one third of its store network with the remainder to be completed over the next two to three years.The company also wants to grow through the launch of a wholesale division, and is in talks to open Birks branded shop in shops inside of other specialty retailers after a successful pilot run at its own Mayors stores in recent years.looks promising, B said of the discussions. Is tough in retail right now, but we believe there are growth opportunities there. women’s jewelry
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