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,” “focus” 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, and
our strategies for growth, performance drivers, expansion plans, sources or adequacy of capital, expenditures and financial results, as well as statements regarding our continued work on improving our operations despite increased pressure on costs
and margins and our continued focus on delivering excellence in customer service, 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., 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, inflation, increases in commodity prices and borrowing or
operating costs, or other pricing environment factors and their related impact on the Company’s costs and expenses; (iv) changes in interest rates; (v) 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 mitigate fluctuations in the availability and prices of the
Company’s merchandise, to compete with other jewellers, to succeed in its marketing initiatives (including with respect to Birks branded products), and to have a successful customer service program; (vi) the Company’s plan to evaluate
the productivity of existing stores, close unproductive stores and open new stores in prime retail locations, and invest in its website and e-commerce platform; (vii) the Company’s ability to
continue to borrow under its Amended Credit Facility and Amended Term Loan; (viii) the Company’s ability to maintain profitable operations, as well as maintain specified excess availability levels under its Amended Credit Facility, make
scheduled payments of principal and interest, and fund capital expenditures; (ix) the Company’s ability to execute its strategic vision; (x) the geopolitical environment and increased political uncertainty; (xi) the impact of
weather-related incidents, natural disasters, strikes, protests, riots or terrorism, acts of war or another public health crisis or disease outbreak, epidemic or pandemic on the Company’s business; and (xii) the Company’s ability to
invest in and finance capital expenditures, (xiii) the Company’s ability to maintain its listing on the NYSE American or to list its shares on another national securities exchange, and (xiv) the Company’s ability to continue as a
going concern.
