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Message: Harry Winston posts loss, but sees improvements

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Harry Winston posts loss, but sees improvements

posted on Jun 05, 09 08:18AM

the new kinross subsidiary had a bad year, as people don't buy a lot of diamonds after they've lost their jobs:

TORONTO, June 4 (Reuters) - Harry Winston Diamond Corp (HW.TO) fell to a loss in the first quarter due to plunging diamond demand and a series of one-time items, but the company said on Thursday the worst of the slump was past and prices were already on the rise.

Speaking on a conference call, Chief Executive Robert Gannicott said rough diamond prices have begun to rebound due to global cuts to diamond production and positive demand from Asia, while retail traffic at its high-end jewelry stores has begun to improve after drying up last year.

http://www.reuters.com/article/marke...

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