News

An engaging Q4 for Blue Nile: Revenue increases nearly 8%

February 10, 2015 10:36 AM
http://www.internetretailer.com/static/uploads/thumbs/ring_gif_78x78_crop_q95.jpg

Net sales  rose 7.8% year over year in the fourth quarter for Blue Nile Inc. The online jeweler, No. 78 in the Internet Retailer 2014 Top 500 Guide,  reported Tuesday a 5.2% year-over-year revenue increase for fiscal 2014.

"Our fourth quarter growth continues the positive momentum from Q3 in spite of what was a challenging quarter for many jewelry retailers," says Harvey Kantar, Blue Nile chairman, CEO and president. "While these results are below our expectations, the above-industry growth demonstrates that we made progress and gained share.”

For the four quarter ended Jan. 4, Blue Nile reported:

• Net sales increased 7.8% year over year to $157.4 million from $146.0 million. The fourth quarter 2014 included 14 weeks, and Blue Nile says net sales for that additional week compared to a year earlier hit $5.9 million, contributing 4.1% of Q4 growth.

• Net income decreased 2.0% to approximately $4.8 million from about $4.9 million.

• Sales of engagement rings in the United States increased 8.0% year over year to $85.0 million from $78.7 million.

• Sales of other jewelry in the United States increased 6.3% to $48.8 million from $45.9 million.

• International sales grew 10.3% to $23.6 million from $21.4 million.

• Selling, general and administrative expenses reached (KP-too much use of “hit”) $21.6 million, up 8.0% compared with $20.0 million.

For the full fiscal year 2014, Blue Nile reported:

• Net sales of $473.5 million, up 5.2% from $450.0 million in 2013. The fiscal 2014 period included 53 weeks; sales from that extra week contributed 1.3% of the fiscal year’s growth.

• Net income of $9.7 million, down 11.0% from nearly $10.9 million for 2014.

• Sales of engagement rings in the United States increased 4.1% year over year to $266.4 million from $255.8 million.

• Sales of other jewelry in the United States increased about 4.1% to $126.0 million from $121.0 million.

• International sales grew 10.8% to $81.1 million from $73.2 million.

• Selling, general and administrative expenses hit $72.4 million, up about 4.5% compared with $69.3 million. 

 

Back

 

Top Solution Providers

close