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Segmented information
 12 Months Ended
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