Charles & Colvard Sales Down 35%
Charles & Colvard, Ltd., the global source of moissanite, a created jewel available for use in fine jewelry, reported Thursday that net sales in the fourth quarter decreased 35 percent to $7.9 million year-over-year. Gross profit fell 42 percent to $5.4 million year-over-year.
Gross profit margins decreased 830 basis points to 68.6 percent in the fourth quarter of 2007 from 76.9 percent in the comparable quarter of 2006 primarily, as a result of higher production costs during the period being relieved from inventory, the Morrisville, N.C.-based company said.
Its domestic sales for the period, ended Dec.
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Loading ...Ebel And Bayern Munich A Five Year Partnership
Ebel is continuing and intensifying its commitment to the world of football. Following in Arsenals footsteps, Bayern Munich is the latest team to have signed a strategic alliance with the Architects of Time. On 10 February, Thomas van der Kallen, the Chairman of Ebel, and Karl-Heinz Rummenigge, the Chairman of Bayern Munich, held a press conference in the Bavarian capital to announce the partnership between the watch manufacturer based in La Chaux-de-Fonds and Germanys most prestigious football club.
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Bedat & Co A Store On-line
In a pioneering development, Bedat & Co recently opened its official online watch store. Initially it will be reserved to enthusiasts of the company living in Switzerland, the United Kingdom and the United States; in the near future however it will be extended to the entire euro zone. Its opening in Japan is planned for later in the year. With this online store, Internet users will be able to make their choice from among all models of the different collections, thanks in particular to a watch finder.
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Valentine’s Day Watches
Here are a few Valentine’s Day themed watches from Audemars Piguet, Blancpain and Hublot . More pics after the jump.
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Birks & Mayors Net Sales Up, Same-Store Sales Down
Luxury jeweler Birks & Mayors Inc. said Wednesday that third-quarter net sales increased 6.4 percent to $122.6 million year-over-year. Meanwhile, same-store sales decreased 6 percent for the period, ended Dec. 29. Net income for the Montreal, Canada-based jewelry chain was $12.7 million, as compared to net income of $19.6 million in the prior-year’s third quarter. Included in net income were currency translation benefits of approximately $0.8 million. Net sales for the retailer (with stores in the U.S.
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Vacheron Rated Most Prestigious Watch Brand
High net-worth consumers rated Vacheron Constantin the most prestigious luxury watch brand, according to a survey by the Luxury Institute. Patek Philippe and Piaget were ranked second and third, respectively. Vacheron Constantin Patrimony traditionnelle openworked perpetual calendar Vacheron Constantin is “one of the best in skeleton movements and finishing” is “very dependable” and “unique,” respondents to the 2008 Luxury Brand Status Index said.
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Jaeger-LeCoultre, Le Sentier New Extension
The Jaeger-LeCoultre site, which currently occupies a floor space of 16,000 m2, will have an additional 9,000 m2 by 2010. This extension is part of a wider programme to emphasise the manufactorys natural integration in its geographical and social environment. Since its creation, Jaeger-LeCoultre has been both a motor and a magnet for economic growth in the Vallée de Joux, a region of unspoilt countryside located at an altitude of 1,000 metres.
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VaBene watches ‘good’ for Fashion Week
New York—Watch brand VaBene teamed up with fashion designer Nicole Romano for her Fall 2008 runway show, held at Espace in New York City during Mercedes-Benz Fashion Week. Watches from VaBene—which means “it’s all good” in Italian—were featured at Romano’s show, including a black chronograph with black bezel and a white chronograph with rose gold bezel. Both timepieces are acrylic. Celebrity chef Rocco DiSpirito and Romano also sported the watches at the show.
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Tiffany Expects 10% Sales Growth in 2008
Tiffany & Co. said Friday it is expecting double-digit international growth and single-digit domestic growth for 2008. "Our U.S. sales results for the month of January were modestly improved from December and we are seeing ongoing strength in Asia-Pacific outside Japan and in Europe," said Michael J. Kowalski, Tiffany chairman and chief executive officer. "Generally speaking, we are planning our U.S.
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Need a watch with a working slot machine?
Las Vegas—Luxury watch brands and the Las Vegas set have become a staunch pair over the last few years, with companies such as Corum sponsoring pro poker players and watch designers whipping up a flurry of timepieces marked with poker chip- and playing card-inspired insignias. And now, another Swiss watch brand, Girard-Perregaux, has taken a cue from the casinos, designing the first-ever timepiece to combine a tourbillon with a working slot machine.
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