Jewelry store chain Birks & Mayors cut its loss for fiscal 2010 to $19.5 million
MONTREAL - Birks & Mayors Inc. (NYSE:BMJ), operating 64 voluptuousness jewelry stores in Canada, Florida and Georgia, had a net loss of $19.5 million for budgetary 2010, cutting its loss from the previous fiscal year.
That amounts to $1.71 per diluted share out for fiscal 2010, the Montreal-based company said Friday.
For the above fiscal year, Birks & Mayors reported a net erosion of $61 million or $5.38 cents per diluted divide up, the company said.
President and chief executive Tom Andruskevich said the South African private limited company has reduced expenses and inventory.
"As we enter the new fiscal year, we extend to be encouraged by the performance of our Canadian business and the more recent rehabilitation in our U.S. stores," Andruskevich said in a statement.
The net loss for financial 2010 included a non-cash charge of $1.4 million associated with the harm of certain fixed assets, the company said.
Net sales decreased 5.8 per cent to $255.1 million for the full year, from $270.9 million in pecuniary 2009.
For the first quarter of fiscal 2011, Birks & Mayors said net sales increased 11.8 per cent to $59.9 million from $53.6 million a year ago.
Two charged with stealing $3450 in jewelry from Braintree store
Two people expression charges they stole nearly $3,500 worth of unequalled silver jewelry from a store in South Shore Plaza, control said.
Brittany M. Sarni, 19, of Quincy, and Peter L. Candelora, 34, of Plymouth, were each arraigned Thursday in Quincy Locale Court.
Braintree Deputy Police Chief Russell Jenkins said safe keeping officers at Lord & Taylor first saw the pair in the store at about 1:30 p.m. Wednesday. They watched as Sarni and Candelora picked pieces of jewelry from one distress and put them onto another.
“Loss prevention officers later explained this is a community tactic among shoplifters so they could quickly grab up the merchandise they wanted and holiday the store,” Jenkins said.
They left the accumulate without the jewelry but returned about two hours later, Jenkins said.
“After separating, Sarni returned to the jewelry trestle, took the jewelry she had selected and concealed all the pieces in her sweater,” Jenkins said. “She then rolled up her sweater, placed it in her backpack, and exited the market.”
Patrol Officers Michael Want and Matthew Crowley watched Sarni flounce to the bus stop where she met up with Candelora and then stopped the two and searched the backpack, Jenkins said. They found 34 pieces of jewelry valued at $3,450, he said.
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