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, 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, (xiv) the Company’s ability to continue as a going concern, (xv) acceptance of the Company’s plan by the NYSE American, and (xvi) the
Company’s ability to achieve compliance with the NYSE America’s continued listing standards within the required time frame.
