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Segmented information
12 Months Ended
Mar. 26, 2022
Segment Reporting [Abstract]  
Segmented information
13.
Segmented information:
The Company has two reportable segments Retail and Other. As of March 26, 2022, Retail operated 23 stores across Canada under the Maison Birks brand, 1 retail location in Calgary under the Brinkhaus brand and 2 retail locations in Vancouver under the Graff and Patek Philippe brands. During fiscal 2022, the Company closed three stores operating under the Maison Birks banner and did not open any new stores. Other consists primarily of our
e-commerce
business, wholesale business and gold exchange program. The two reportable segments are managed and evaluated separately based on unadjusted gross profit. The accounting policies used for each of the segments are the same as those used for the consolidated financial statements. Inter-segment sales are made at amounts of consideration agreed upon between the two segments and intercompany profit is eliminated if not yet earned on a consolidated basis. The Company does not evaluate the performance of the Company’s assets on a segment basis for internal management reporting and, therefore, such information is not presented.
Certain information relating to the Company’s segments for the years ended March 26, 2022, March 27, 2021, and March 28, 2020, respectively, is set forth below:
 
 
  
Retail
 
  
Other
 
  
Total
 
 
  
2022
 
  
2021
 
  
2020
 
  
2022
 
  
2021
 
  
2020
 
  
2022
 
  
2021
 
  
2020
 
 
  
(In thousands)
 
Sales to external customers
   $ 167,819      $ 130,758      $ 160,981      $ 13,523      $ 12,310      $ 8,439      $ 181,342      $ 143,068      $ 169,420  
Inter-segment sales
     —          —          —          574        681        3,606        574        681        3,606  
Unadjusted Gross profit
     72,061        51,029        64,210        6,961        5,989        4,074        79,022        57,018        68,284  
The following sets forth reconciliations of the segments’ gross profits and certain unallocated costs to the Company’s consolidated gross profits for the years ended March 26, 2022, March 27, 2021, and March 28, 2020.:
 
 
  
Fiscal Year Ended
 
 
  
March 26, 2022
 
  
March 27, 2021
 
  
March 28, 2020
 
 
  
(In thousands)
 
Unadjusted gross profit
   $ 79,022      $ 57,018      $ 68,284  
Inventory provisions
     (383      (736      (475
Other unallocated costs
     (2,445      38        (3,586
Adjustment of intercompany profit
     26        30        254  
    
 
 
    
 
 
    
 
 
 
Gross profit
   $ 76,220      $ 56,350      $ 64,477  
    
 
 
    
 
 
    
 
 
 
 
Sales by classes of similar products and by channel were as follows:
 
 
  
Retail
 
  
Other
 
  
Total
 
 
  
2022
 
  
2021
 
  
2020
 
  
2022
 
  
2021
 
  
2020
 
  
2022
 
  
2021
 
  
2020
 
 
  
(In thousands)
 
Jewelry and other
   $ 78,586      $ 55,743      $ 81,736      $ 11,936      $ 11,553      $ 8,439      $ 90,522      $ 67,296      $ 90,175  
Timepieces
     89,233        75,015        79,245        1,587        757       

       90,820        75,772        79,245  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
     $ 167,819      $ 130,758      $ 160,981      $ 13,523      $ 12,310      $ 8,439      $ 181,342      $ 143,068      $ 169,420