By  on April 3, 2009

Luxury jeweler and mining firm Harry Winston Diamond Corp. said Thursday it swung to a loss in the fourth quarter as its retail sales sank 20.8 percent for the period.

Weighed down by noncash goodwill impairment related to retail operations totaling $93.8 million, or $1.53 a share, the Toronto-based firm recorded a net loss of $73 million, or $1.19 a diluted share, for the quarter ended Jan. 31. For the same quarter last year, the company had a profit of $90.4 million, or $1.54 a share. Net sales fell 37.1 percent to $118.4 million from $188.2 million last year while retail sales dropped to $67.3 million from $85 million.

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