Harry Winston Retail Sales Up 89%, Sees Rising Diamond Prices

Highlights of Harry Winston’s financial statement (ended Jan. 31) results:

  • 4Q: Consolidated sales: $215.4 million, up 61%
  • 4Q: Rough diamond sales: $82.7 million, up 30%
  • 4Q: Retail sales: $132.7 million, up 89%
  • 4Q: Consolidated net income: $9.9 million, compared to consolidated net loss of $3.4 million
  • FY2010: Consolidated sales: $624 million, up from $412.9 million
  • FY2010: Rough diamond sales: $279.2 million, up 49%
  • FY2010: Retail sales: $344.8 million, up 53%
  • FY2010: Consolidated net income: $21.7 million, compared to consolidated net loss of $73.2 million.

The statement predicted rising rough and polished diamond prices will continue to rise through 2012.

“The demand for rough diamonds is outpacing the increase in mine supply, inevitably leading to shortages in the rough and polished market,” it said.
 
For more information on Harry Winston’s financial statement, click here.

Don’t miss a story! Subscribe to JCK’s e-newsletter here.