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Segmented information | 12 Months Ended
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Mar. 25, 2023
Segment Reporting [Abstract] |
Segmented information |
13. | Segmented information:
The Company has two reportable segments Retail and Other. As of March 25, 2023, Retail operated 21 stores across Canada under the Maison Birks brand, one retail location in Calgary under the Brinkhaus brand, two retail locations in Vancouver under the Graff and Patek Philippe brands, and one retail location in Laval under the Breitling brand. During fiscal 2023, the Company closed two stores (three stores in fiscal 2022) 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 25, 2023, March 26, 2022, and March 27, 2021, respectively, is set forth below:
|  | Retail |  |  | Other |  |  | Total |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (In thousands) |
Sales to external customers |  | $ | 153,428 |  |  | $ | 167,819 |  |  | $ | 130,758 |  |  | $ | 9,522 |  |  | $ | 13,523 |  |  | $ | 12,310 |  |  | $ | 162,950 |  |  | $ | 181,342 |  |  | $ | 143,068 |
Inter-segment sales |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 493 |  |  |  | 574 |  |  |  | 681 |  |  |  | 493 |  |  |  | 574 |  |  |  | 681 |
Unadjusted Gross profit |  |  | 67,184 |  |  |  | 72,061 |  |  |  | 51,029 |  |  |  | 6,961 |  |  |  | 6,961 |  |  |  | 5,989 |  |  |  | 71,924 |  |  |  | 79,022 |  |  |  | 57,018 |
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 25, 2023, March 26, 2022, and March 27, 2021:
|  | Fiscal Year Ended |
|  | March 25, 2023 |  |  | March 26, 2022 |  |  | March 27, 2021 |
|  | (In thousands) |
Unadjusted gross profit |  | $ | 71,924 |  |  | $ | 79,022 |  |  | $ | 57,018 |
Inventory provisions |  |  | (849 | ) |  |  | (383 | ) |  |  | (736 | )
Other unallocated costs |  |  | (3,153 | ) |  |  | (2,445 | ) |  |  | 38 |
Adjustment of intercompany profit |  |  | 38 |  |  |  | 26 |  |  |  | 30 |
Gross profit |  | $ | 67,960 |  |  | $ | 76,220 |  |  | $ | 56,350 |
Sales by classes of similar products and by channel were as follows:
|  | Retail |  |  | Other |  |  | Total |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
|  |  |  |  |  |  |  |  |  |  | (In thousands) |  |  |  |  |  |  |
Jewelry and other |  | $ | 77,611 |  |  | $ | 78,586 |  |  | $ | 55,743 |  |  | $ | 8,187 |  |  | $ | 11,936 |  |  | $ | 11,553 |  |  | $ | 85,798 |  |  | $ | 90,522 |  |  | $ | 67,296 |
Timepieces |  |  | 75,817 |  |  |  | 89,233 |  |  |  | 75,015 |  |  |  | 1,135 |  |  |  | 1,587 |  |  |  | 757 |  |  |  | 77,152 |  |  |  | 90,820 |  |  |  | 75,772 |
|  | $ | 153,428 |  |  | $ | 167,819 |  |  | $ | 130,758 |  |  | $ | 9,522 |  |  | $ | 13,523 |  |  | $ | 12,310 |  |  | $ | 162,950 |  |  | $ | 181,342 |  |  | $ | 143,068 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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