Birks & Mayors Inc. (BMJ) Is One to Watch ...

Birks & Mayors, a leading operator of luxury jewelry stores in the United States and Canada, operates 33 stores under the Birks brand in most major metropolitan markets of Canada, 29 stores under the Mayors brand in Florida and Georgia, two retail locations in Calgary and Vancouver under the Brinkhaus brand, as well as three temporary retail locations in Florida and Tennessee under the Jan Bell brand. Founded over a century ago, Birks is recognized as Canadas premier retailer, designer and manufacturer of fine jewelry, timepieces, sterling and plated silverware and gifts. The companys Mayors brand was founded in 1910 and has maintained the intimacy of a family-owned boutique while becoming notorious for its fine jewelry, timepieces, giftware and service. Birks has collected the highest total of awards than any other Canadian jeweler over the last fifty years. Among them, Birks has earned 12 Diamonds Today Awards, the most prestigious jewelry-design award in Canada. Birks designers have also received 6 Diamonds-International awards, sponsored by De Beers, and the Academy award of jewelry design. Mayors designers have also received merited praise and recognition for exceptional creative designs.Birks & Mayors recently reported its financial results for the twenty-six week period ended September 25, 2010. Compared to the same period in 2009, net sales increased 8.8% to $111.2 million and comparable store sales were up 5%. Gross profit was $47.5 million, or 42.7% of net sales in the first six months of fiscal 2011, as compared to $43.5 million, or 42.5% of net sales, in the prior year period.Commenting on the results, president and Chief Executive Officer of Birks & Mayors Tom Andruskevich stated, We are encouraged by the continued improvement in sales and gross margin performance so far this year and will continue to focus on generating increases in sales and gross profits throughout the all important holiday season. In addition, we will continue to diligently control expenses, manage the level and productivity of our inventory and limit capital expenditures while continuing to focus on providing superior customer service and maintaining strong client relationships.Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.netDisclosure: no positions