$BGICF

BIRKS GROUP INC.

CIK:0001179821|SEC Filings

Consolidated Statements of Operations - CAD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 28, 2026	Mar. 29, 2025	Mar. 30, 2024
Income Statement [Abstract]
Net sales	$ 205,424	$ 177,807	$ 185,275
Cost of sales	126,269	111,499	111,720
Gross profit	79,155	66,308	73,555
Selling, general and administrative expenses	68,520	59,518	65,705
Depreciation and amortization	7,326	7,733	6,639
Impairment of long-lived assets	172	4,592	0
Total operating expenses	76,018	71,843	72,344
Operating income (loss)	3,137	(5,535)	1,211
Interest and other financial costs	8,761	9,712	8,007
(Loss) income before taxes and equity in earnings of joint venture	(5,624)	(15,247)	(6,796)
Income taxes (benefits)	0	0	0
Equity in earnings of joint venture, net of taxes of $0.8 million ($0.9 million in fiscal 2025 and $0.8 million in fiscal 2024)	2,229	2,428	2,165
Net (loss) income, net of tax	$ (3,395)	$ (12,819)	$ (4,631)
Weighted average common shares outstanding:
Basic	19,600	19,357	19,058
Diluted	19,600	19,357	19,058
Net (loss) income per common share:
Basic	$ (0.17)	$ (0.66)	$ (0.24)
Diluted	$ (0.17)	$ (0.66)	$ (0.24)

Consolidated Statements of Cash Flows - CAD ($) $ in Thousands	12 Months Ended
	Mar. 28, 2026	Mar. 29, 2025	Mar. 30, 2024
Cash flows from (used in) operating activities:
Net income (loss)	$ (3,395)	$ (12,819)	$ (4,631)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	7,326	7,733	6,639
Impairment of long-lived assets	172	4,592	0
Net change of operating lease right-of-use assets and liabilities	(2,232)	(4,039)	(1,372)
Leasehold inducements received	216	1,889	825
Lease modifications	161	(1,320)	31
Amortization of debt costs	988	134	214
Amortization of debt forgiveness	(59)	0	0
Compensation expenses resulting from equity settled restricted stock units	0	0	27
Equity in earnings of joint venture	(2,229)	(2,428)	(2,165)
Dividend received from investment in joint venture	1,470	1,381	0
Other operating activities, net	(172)	222	26
(Increase) decrease in:
Accounts receivable, other receivables and long-term receivables	1,839	1,840	4,176
Inventories	(800)	(17,210)	(10,710)
Prepaids and other current assets	496	841	(219)
Increase (decrease) in:
Accounts payable	(2,792)	15,257	5,521
Accrued liabilities and other long-term liabilities	(819)	2,015	1,468
Net cash (used in) provided by operating activities	170	(1,912)	(170)
Cash flows (used in) provided by investing activities:
Acquisition, net of cash acquired	(7,012)	0	0
Additions to property and equipment	(2,291)	(7,007)	(6,282)
Additions to intangible assets	(490)	(542)	(953)
Net cash (used in) provided by investing activities	(9,793)	(7,549)	(7,235)
Cash flows provided by (used in) financing activities:
Increase (decrease) in bank indebtedness	(1,855)	10,202	5,372
Drawdown on capital lease funding	282	3,535	4,208
Increase in long-term debt	17,250	0	1,552
Repayment of long-term debt	(2,012)	(1,898)	(2,012)
Repayment of obligations under finance lease	(2,684)	(2,549)	(1,091)
Payment of loan origination fees and costs	(1,405)	(126)	(103)
Exercise of stock options and warrants	0	23	0
Net cash provided by (used in) financing activities	9,576	9,187	7,926
Net (decrease) increase in cash and cash equivalents	(47)	(274)	521
Cash and cash equivalents, beginning of year	1,509	1,783	1,262
Cash and cash equivalents, end of year	1,462	1,509	1,783
Supplemental disclosure of cash flow information:
Interest paid	7,904	8,458	7,802
Non-cash transactions:
Property and equipment and intangible assets additions included in accounts payable and accrued liabilities	$ 1,103	$ 1,057	$ 1,455

Consolidated Balance Sheets - CAD ($) $ in Thousands	Mar. 28, 2026	Mar. 29, 2025
Current assets:
Cash and cash equivalents	$ 1,462	$ 1,509
Accounts receivable and other receivables	4,356	6,608
Inventories	126,112	116,277
Prepaids and other current assets	1,837	2,072
Total current assets	133,767	126,466
Long-term receivables	1,361	1,084
Equity investment in joint venture	5,928	5,169
Property and equipment, net	23,167	25,380
Operating lease right-of-use assets	46,872	34,964
Intangible assets	3,250	3,017
Total non-current assets	80,578	69,614
Total assets	214,345	196,080
Current liabilities:
Bank indebtedness	71,671	73,630
Accounts payable	60,034	58,114
Accrued liabilities	7,484	6,053
Current portion of long-term debt	2,697	4,860
Current portion of operating lease liabilities	9,623	6,929
Total current liabilities	151,509	149,586
Long-term debt and long-term debt due to related parties	35,792	21,374
Long-term portion of operating lease liabilities	45,898	38,629
Other long-term liabilities	2,514	4,502
Total long-term liabilities	84,204	64,505
Stockholders' equity (deficiency):
Total of Common Stock Class A and Class B	101,174	100,609
Preferred stock – no par value, unlimited shares authorized, none issued and outstanding	0	0
Additional paid-in capital	19,154	19,719
Accumulated deficit	(141,690)	(138,295)
Accumulated other comprehensive (loss) income	(6)	(44)
Total stockholders' equity (deficiency)	(21,368)	(18,011)
Total liabilities and stockholders' equity (deficiency)	214,345	196,080
Class A Common Stock [Member]
Stockholders' equity (deficiency):
Total of Common Stock Class A and Class B	43,419	42,854
Class B Common Stock [Member]
Stockholders' equity (deficiency):
Total of Common Stock Class A and Class B	$ 57,755	$ 57,755