Birks Group Inc.

Climate Impact & Sustainability Data (2021)

COVID-19 pandemic significantly impacted retail stores, sales, and foot traffic, leading to temporary closures and reduced operating hours.
High levels of indebtedness could adversely affect operations, liquidity, and financial condition.
Maintaining existing store locations and negotiating favorable lease terms.
Maintaining relationships with primary vendors and ensuring timely delivery of products.
Managing inventory effectively to avoid write-downs and maintain cash flow.
Fluctuations in the availability and prices of raw materials.
Protecting intellectual property and potential costly litigation.
Risks associated with data privacy breaches and security breaches of information systems.
Implementing changes to information systems without disrupting operations.
Maintaining corporate culture and reputation.
Factors affecting consumer spending (general economic conditions, consumer confidence, tourism, etc.).
Currency exchange risks.
High competition in the retail jewelry and timepiece industry.
Control by a single shareholder whose interests may differ from other shareholders.
Potential for terrorist acts or catastrophic events.
Widespread protests and social unrest.
Environmental and climate changes.
Social, ethical, and environmental matters influencing reputation and stakeholder relationships.
Legal and compliance risks related to consumer credit and international trade.

Established a cross-functional management team to guide business operations during the COVID-19 pandemic.
Substantially reduced selling, general, and administrative expenses (including employee compensation, marketing costs, and other operating costs).
Negotiated extended credit terms with vendors and rent relief with landlords.
Postponed capital expenditures.
Adjusted and reduced forward inventory purchases.
Qualified and applied for government relief programs (CEWS and CERS).
Secured a new six-year term loan with Investissement Québec.
Actively identifying alternative sources of financing (public or private equity, asset disposal, debt financing, government funding).
Implementing a conflict minerals compliance initiative.
Conflict minerals policy communicated to suppliers.
Requiring diamond suppliers to acknowledge compliance with the Kimberley Process.
Regularly reviewing retail network locations and making decisions to open, relocate, or close stores.
Investing in website and e-commerce platform.

Climate Change Data