Blue Nile, Inc., a leading online retailer of diamonds and fine jewelry, reported financial results for its third quarter ended September 28, 2014.
Net sales increased 6.9% to $105.8 million for the third quarter ended September 28, 2014.
The international sales were incredibly strong with an increase of 25.6% ($21.5 million, compared to $17.1 million for the third quarter 2013) with Greater China as the largest driver of our international growth.
U.S. engagement net sales for the third quarter 2014 increased 5.0% to $60.8 million, compared to $57.9 million for the third quarter of 2013.
U.S. non-engagement net sales for the third quarter 2014 decreased 1.7% to $23.5 million, compared to $23.9 million for the third quarter of 2013.
Expectations for the fiscal year 2014 (Year Ending January 4, 2015):
Net sales are expected to be between $475 million and $490 million.
Blue Nile sold four items worth $1.8 million to a single customer, and also sold an $187,000 diamond to a customer over a mobile device, CEO Harvey Kanter announced on a conference call following the release of its financial results. He added that the company now gets half its traffic via mobile devices.
Olga Patseva, Editor in Chief of the American Bureau, Rough&Polished
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