EBITDA
(in thousands)
|
|
|
|
|
|
|
|
|
| |
|
For the twenty-six-week period ended |
|
| |
|
September 28, 2024 |
|
|
September 23, 2023 |
|
| Net (loss) income (U.S. GAAP measure) |
|
|
(3,081 |
) |
|
|
(1,482 |
) |
| as a % of net sales |
|
|
-3.8 |
% |
|
|
-1.7 |
% |
| Add the impact of: |
|
|
|
|
|
|
|
|
| Interest expense and other financing costs |
|
|
4,034 |
|
|
|
3,350 |
|
| Depreciation and amortization |
|
|
3,701 |
|
|
|
3.089 |
|
|
|
|
|
|
|
|
|
|
| EBITDA (non-GAAP measure) |
|
$ |
4,654 |
|
|
$ |
4,957 |
|
|
|
|
|
|
|
|
|
|
| as a % of net sales |
|
|
5.8 |
% |
|
|
5.6 |
% |
Forward Looking Statements
This press release contains forward- looking statements which can be identified by their use of words like “plans,” “expects,”
“believes,” “will,” “anticipates,” “intends,” “projects,” “estimates,” “could,” “would,” “may,” “planned,” “goal”, “continue”,
“strategy” and other words of similar meaning. All statements that address expectations, possibilities or projections about the future, including without limitation, statements about anticipated economic conditions, generation of
shareholder value, and our strategies for growth, performance drivers, expansion plans, sources or adequacy of capital, expenditures and financial results are forward-looking statements.
Because such statements include various risks and uncertainties, actual results might differ materially from those projected in the forward-looking statements
and no assurance can be given that the Company will meet the results projected in the forward-looking statements. These risks and uncertainties include, but are not limited to the following: (i) a decline in consumer spending or deterioration
in consumer financial position; (ii) economic, political and market conditions, including the economies of Canada and the U.S., and the influence of inflation on consumer spending, which could adversely affect the Company’s business,
operating results or financial condition, including its revenue and profitability, through the impact of changes in the real estate markets, changes in the equity markets and decreases in consumer confidence and the related changes in consumer
spending patterns, the impact on store traffic, tourism and sales; (iii) the impact of fluctuations in foreign exchange rates, increases in commodity prices and borrowing costs and their related impact on the Company’s costs and expenses;
(iv) the Company’s ability to maintain and obtain sufficient sources of liquidity to fund its operations, to achieve planned sales, gross margin and net income, to keep costs low, to implement its business strategy, maintain relationships
with its primary vendors, to source raw materials, to mitigate fluctuations in the availability and prices of the Company’s merchandise, to compete with other jewelers, to succeed in its marketing initiatives (including with respect to Birks
branded products), and to have a successful customer service program; (v) the Company’s plan to evaluate the productivity of existing stores, close unproductive stores and open new stores in new prime retail locations, and invest in its
website and e-commerce platform; (vi) the Company’s ability to execute its strategic vision; (vii) the Company’s ability to invest in and finance capital expenditures, and (viii) the
Company’s ability to maintain its listing on the NYSE American or to list its securities on another national securities exchange.