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On December - 28 - 2008
N.Y. state considers increasing luxury goods tax
On December - 25 - 2008
According to National Jeweler, an additional sales tax of 5 percent on luxury goods costing more than $20,000 - including jewelry - is one element of New York Gov. David Paterson’s proposed $12.1 billion state budget. For more infomation, please visit this link.
Harry Winston Diamond Corporation Announces Third Quarter Fiscal 2009 Results
On December - 23 - 2008
The Company recorded consolidated net earnings of
USA Luxury Market Career Website now launched
On December - 23 - 2008
A new luxury market career website has opened; coevering the following areas: Woman fashion, accessories, interiors, furniture, design, accessories, footwear, leathergoods, watch-making, stationnaries, tableware, homeware, decoration, automotives, Vip service, Casino, menswear, tailoring, alterations, fine food, hospitality, catering, jewellery, Design, Creative, beauty, perfumes, cosmetics…
TORONTO, June 4 /PRNewswire-FirstCall/ - Harry Winston Diamond Corporation (TSX: HW; NYSE: HWD) today reported first quarter results for the period ending April 30, 2008. The Company recorded an increase in consolidated sales for the quarter of 10%, generating an 18% increase in gross margin and a 10% increase in consolidated earnings from operations compared to the results of the first quarter of the prior year. Consolidated quarterly sales totalled $156.1 million with earnings from operations of $39.6 million compared to $141.4 million and $36.0 million, respectively, for the comparable quarter of the prior year.
Bulgari Group: excellent results in the first half 2007
On September - 14 - 2007
- Turnover: €488m (+15% at comparable exchange rates, +9% at current exchange rates)
- Gross margin: €311m (+9%)
- Operating profit: €62m (+17%)
- Net profit: €58m (+32%)
The Board of Directors of Bulgari S.p.A. approved yesterday the consolidated financial statements for the Bulgari Group as of 30th June 2007 which highlight a turnover of €487.8m increased by 14.8% at comparable exchange rates (+8.9% at current exchange rates) in comparison to the same period of last year. Operating profit and net profit increased by 17.0% and 31.5% respectively in comparison to the same period of 2006.
Revenues by product category and geographical area (All the variations reported below are expressed at comparable exchange rates unless noted otherwise)
The period January – June 2007 ended with outstanding sales results for the Group. The jewellery segment, core business of the Company, showed a significant growth (+20.8%), as well as watches (+10.2%), also thanks to the success of the new Assioma D model for women presented at the Basel Fair, and perfumes (+21.6%), whose performance is particularly brilliant considering the absence of relevant product launches in this first part of the year. Accessories registered a decrease (-8.2%) due both to the weakness of the Japanese market, where a very important part of the business for this product category is concentrated, and to the anticipation at the end of 2006 of the Spring-Summer 2007 collection deliveries. As far as geographical areas are concerned, the robust sales performance was very satisfying in the US(+26.6%), in Europe (+10.9%), where the performance in Italy was particularly remarkable (+15.7%) and in Asia, excluding Japan, (+55.0%). Japan continued to post a weak performance (-9.0%), showing however a sales performance in the directly owned stores much better than in the third party distributors. Middle East/Other, finally, registered a 7.8% growth at current exchange rates despite the high comparison base (+21.3% in the first half 2006 at current exchange rates).
Source: Bvlgari SpA Press Release
Richemont Annual General Meeting 2007
On September - 13 - 2007
At the Annual General Meeting of Compagnie Financière Richemont SA held today in Bellevue, Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2007.
A dividend of € 0.054 per Richemont unit will be paid to unitholders on the share capital of Compagnie Financière Richemont SA. The dividend will be payable to holders of ‘A’ and ‘B’ units on 17 September 2007 against presentation of coupon number 8, free of charges but subject to Swiss withholding tax at 35 per cent. The total dividend payable to unitholders will amount to € 30 272 912. No dividend will be paid on units held in treasury by the Group.
The Swiss franc equivalent of the dividend for the purposes of with-holding taxes, calculated at the €/Swiss franc exchange rate prevailing as at the time of the Annual General Meeting of 1.6446, is CHF 0.0888084 per Richemont unit or
CHF 49 786 831 in total. The remaining available retained earnings of the Company at 31 March 2007 of CHF 1 081 579 829, after payment of the dividend, will be carried forward to the next business year.
In addition to the Compagnie Financière Richemont SA payment, a dividend of € 1.196 per unit will be paid by Richemont SA, Luxembourg. This consists of an ordinary dividend of € 0.596 and a special dividend of € 0.60 per unit and will be
payable to holders of ‘A’ and ‘B’ units without deduction of withholding taxes or charges, on 17 September 2007, against presentation of coupon number 9. The total dividend for the year, payable by both entities, will therefore be € 1.25 per
unit, before deduction of withholding tax. All other matters on the agenda were approved by the shareholders. All the serving members of the board of directors were re-elected and, in addition, Mrs Anson Chan was elected to the Board.
Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier
and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties. In addition to its luxury goods business, Richemont holds a 19.2 per cent interest in British American Tobacco.
Source: Richemont Press Release
Aber Posts Record Quarterly Sales
On September - 11 - 2007
Aber Diamond Corporation announces its second quarter results for the period ended July 31, 2007.
“We are pleased with our strong results this quarter that have delivered a 24% increase in sales and a 27% increase in earnings from operations with both segments of our business contributing to the record results,” said Robert Gannicott, Chairman and Chief Executive Officer of Aber Diamond Corporation. “Rough diamond production increased 21% in the quarter as a result of grade enhancements from improvements to the diamond recovery process. In our Harry Winston business, the demand for premier jewelry and watches continued to grow in our new and existing salons worldwide.”
Mr. Gannicott continued, “Our mining and retail businesses are strong and we believe we are well positioned for greater growth while retaining a focus on delivering shareholder value.”
Thomas J. O’Neill, President of Aber and Chief Executive Officer of Harry Winston added, “Our 41% increase in sales from our worldwide retail portfolio of 15 salons and selective watch wholesale network, reinforces the strong global demand for the premier diamond jewelry and watches of Harry Winston. Our newest salon, in Beijing, opened during the quarter and our clients have responded well to our collections. We believe we are well positioned for the important upcoming holiday season. While we are focused on the near term, we continue to build for the future. We are on schedule to open three additional salons in the third quarter in key regions throughout the world including Hong Kong, Chicago and Nagoya, Japan and we look forward to introducing our new clients in these dynamic cities to our collections and our service.”
www.joblux.co.uk
On September - 10 - 2007
