Charles & Colvard discusses Q2 sales guidance - expands relationship with Finlay Enterprises

08 Jun '05

3 min read

A created jewelry for fine jewelery maker Charles & Colvard, the sole source of moissanite – a provided second quarter 2005 sales guidance and updated the status of expanded distribution.

Second Quarter 2005 Sales Guidance
According to Bob Thomas, President and Chief Executive Officer of Charles & Colvard, "The second quarter of the year is anticipated to show a significant improvement in sales over the same quarter in 2004. Based upon customer orders and indications, we expect second quarter 2005 sales to be between $7.7 million and $8.4 million, or between 75% to 91% ahead of last year's second quarter sales of $4.4 million."

Business Expansion Continuing
Mr. Thomas continued, "I am pleased to announce an expansion of our relationship with Finlay Enterprises. Through our manufacturing partner, K&G Creations, by early August 2005 moissanite jewelry will be available in the jewelry counters at approximately 220 department store doors whose jewelry departments are leased to Finlay Enterprises.

This is an increase of 106 doors from our previously announced level of distribution at Finlay. Finlay operates leased department store jewelry locations in chains such as Robinsons-May, Lord & Taylor, Famous-Barr, Marshall Fields, Rich's-Macy's, Bon-Macy's and Carson's-Boston Stores."

Mr. Thomas noted, "Additionally beginning in August 2005 we will be conducting test distribution at Von Maur locations in the Midwest. Von Maur is an upscaledepartment store chain with 22 locations."

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