Charles & Colvard Sees Rising Sales, Smaller Loss

Moissanite manufacturer and distributor Charles & Colvard announced generally positive results for its second quarter, with a 2 percent increase in sales and narrower loss.

The Research Triangle Park, N.C.–based company’s sales came in $6.6 million for the quarter, 2 percent up from the prior year. The company posted a $403,000 loss for the quarter, less than the $1 million net loss the year before.

In a statement, president and CEO Suzanne Miglucci pointed to a 10 percent increase in online sales and increased presence in Helzberg Diamonds stores.

She added the company achieved a 43 percent gross margin in the first half of the year, up from 27 percent the year before.

The company also appointed Benedetta Casamento, a veteran of Talbots, Liz Claiborne, and Saks Fifth Avenue, to its board.

JCK News Director