Harry Winston’s sales rise 51% in Q3

At the close of its third quarter ending October 31, 2012, Harry Winston Diamond Corporation noted 51 percent increase (on y-o-y basis) in its sales which touched $180.4 million.

Sales from its rough diamond unit, rose 134 percent (on y-o-y basis) to $84.8 million, while in volume terms there was 286 percent increase in the volume of carats sold, which amounted to 880,000 carats. Its retail business churned sales worth $95.6 million, with a 14 percent increase, while in terms of units sold it rose by 8 percent. The luxury brand segment’s operating profit rose 265 percent to $5.3 million.

The company recorded an overall income of $3.4 million, from a of $4.7 million in the same quarter a year ago.

Harry Winston is maintaining a cautious outlook for the Christmas season with the economic climate strains still existing. It also plans expansions with new salon openings.