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Charles & Colvard Sees Sales Increase

Aug 6, 2017 10:01 AM   By Rapaport News
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RAPAPORT... Charles & Colvard’s expanded relationship with Warren Buffett’s Helzberg Diamonds helped boost the moissanite manufacturer’s sales for the second quarter, it said Thursday.

Net sales at Charles & Colvard increased 1.8% year on year to $6.6 million, due to higher revenues from alternative channels such as e-commerce and the 100 Helzberg stores where it has a presence, the brand reported. In March, the company announced it was doubling the number of Helzberg stores carrying its diamond-substitute jewelry.

Meanwhile, its online sales for the second quarter jumped 10% to $2.2 million, contrasting with a 2% drop in revenue from its “traditional” segment — its wholesale, retail and television customers — to $4.4 million.

The company also reduced its losses by 59% to $402,781, it said.
Tags: Charles & Colvard, diamond substitutes, Helzberg Diamonds, moissanite, Rapaport News, retail
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