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Birks & Mayors up 23 Percent on Positive Same Store Sales Data

Shares of Birks & Mayers Inc. (NYSE: BMJ) rose 23 percent after the company reported positive data.

The Canadian Jewelry store chain reported that sales for 13 weeks ending June 29, were $70.1 million–an increase of $1.3 million, or 2 percent one quarter earlier. Comparable store sales were up 9 percent during the first quarter.

The sales data is partially offset by the $2.1 million of lower sales associated with the closing of seven stores that the company said were underperforming. In addition, $1.7 million of decreased revenues are related to non-retail activities, according to the release. There was also a $600,000 charge off for exchanging Canadian dollars into U.S. dollars.

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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