Charles & Colvard, has released the results of its first-quarter 2008. It encountered a net loss of $698,000, as compared to last year Q1, when it enjoyed a net income of $339,000. %% Retailers in the first quarter preferred to stock fewer good on hand, anticipating lower sales due to economic challenges. The net sales did dip 41 percent to $3.4 million. Retailers also suffered the transition to new moissanite jewellery suppliers to replace the jewellery previously sourced through K&G Creations. %% In US, sales dipped by 47 percent to $2.4 million, while sale in other international markets decreased by 20 percent to $961,000, due to lower sales to the United Kingdom, Thailand and Canada, partially offset by higher sales to Hong Kong. %% Charles & Colvard has sought consultancy from US-based firm Kanter International to analyse its current business model and approach it with new suggestions for improvement.