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Birks Group fiscal H1 loss narrows YOY

Birks Group Inc. said its normalized net income for the fiscal first half ended Sept. 27 amounted to a loss of 3 cents per share, compared with a loss of 31 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $502,500, compared with a loss of $4.8 million in the year-earlier period.

Total revenue climbed 9.7% on an annual basis to $139.7 million from $127.4 million, and total operating expenses climbed from the prior-year period to $135.3 million from $130.7 million.

Reported net income totaled a loss of $4.0 million, or a loss of 22 cents per share, compared to a loss of $7.7 million, or a loss of 50 cents per share, in the year-earlier period.