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Segmented information | 12 Months Ended
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Mar. 30, 2024
Segment Reporting [Abstract] |
Segmented information |
1 5 . | Segmented information:
The Compa ny has two reportable segments , Retail and Other. As of March 30, 2024, Retail operated 18 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 2024, the Company closed three stores (two stores in fiscal 2023 and 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 30, 2024, March 25, 2023, and March 26, 2022, respectively, is set forth below:
|  | Retail |  |  | Other |  |  | Total |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (In thousands) |
Sales to external customers |  | $ | 173,872 |  |  | $ | 153,428 |  |  | $ | 167,819 |  |  | $ | 11,403 |  |  | $ | 9,522 |  |  | $ | 13,523 |  |  | $ | 185,275 |  |  | $ | 162,950 |  |  | $ | 181,342 |
Inter-segment sales |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 605 |  |  |  | 493 |  |  |  | 574 |  |  |  | 605 |  |  |  | 493 |  |  |  | 574 |
Unadjusted Gross profit |  | $ | 71,665 |  |  | $ | 67,184 |  |  | $ | 72,061 |  |  | $ | 5,352 |  |  | $ | 4,740 | (1) |  | $ | 6,961 |  |  | $ | 77,017 |  |  | $ | 71,924 |  |  | $ | 79,022 |
(1) | The amount presented has been corrected by $2.2 million in these financial statements from the amount previously disclosed to reflect the accurate unadjusted gross profit. The total unadjusted gross profit for the year ended March 25, 2023 remains unchanged as previously disclosed.
The following sets forth reconciliations of the segment’s gross profits and certain unallocated costs to the Company’s consolidated gross profits for the years ended March 30, 2024, March 25, 2023, and March 26, 2022:
|  | Fiscal Year Ended |
|  | March 30, 2024 |  |  | March 25, 2023 |  |  | March 26, 2022 |
|  | (In thousands) |
Unadjusted gross profit |  | $ | 77,017 |  |  | $ | 71,924 |  |  | $ | 79,022 |
Inventory provisions |  |  | (1,207 | ) |  |  | (849 | ) |  |  | (383 | )
Other unallocated costs |  |  | (2,278 | ) |  |  | (3,153 | ) |  |  | (2,445 | )
Adjustment of intercompany profit |  |  | 23 |  |  |  | 38 |  |  |  | 26 |
Gross profit |  | $ | 73,555 |  |  | $ | 67,960 |  |  | $ | 76,220 |
Sales by classes of similar products and by channel were as follows:
|  | Retail |  |  | Other |  |  | Total |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (In thousands) |
Jewelry and other |  | $ | 75,401 |  |  | $ | 77,611 |  |  | $ | 78,586 |  |  | $ | 9,825 |  |  | $ | 8,187 |  |  | $ | 11,936 |  |  | $ | 85,226 |  |  | $ | 85,798 |  |  | $ | 90,522 |
Timepieces |  |  | 98,471 |  |  |  | 75,817 |  |  |  | 89,233 |  |  |  | 1,578 |  |  |  | 1,335 |  |  |  | 1,587 |  |  |  | 100,049 |  |  |  | 77,152 |  |  |  | 90,820 |
|  | $ | 173,872 |  |  | $ | 153,428 |  |  | $ | 167,819 |  |  | $ | 11,403 |  |  | $ | 9,522 |  |  | $ | 13,523 |  |  | $ | 185,275 |  |  | $ | 162,950 |  |  | $ | 181,342 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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