FinancialsNov 06, 2024
Pandora Posts Double-Digit Revenue Growth in Q3FinancialsNov 08, 2024
Brilliant Earth’s Q3 Sales Fall 13%
Plus, CEO Beth Gerstein shares her insight on the holiday season and the possibility of new tariffs.
A campaign image from Brilliant Earth’s new jewelry collection with Jane Goodall. The jewelry retailer reported net sales fell 13 percent year-over-year in its recent third quarter.
San Francisco—Brilliant Earth posted double-digit declines in net sales in the third quarter, but CEO Beth Gerstein shared a positive outlook for the holiday season.
On an earnings call Thursday evening, Chief Financial Officer Jeff Kuo said, “We’re pleased to report a quarter where we continued to successfully drive our strategic initiatives, innovate, meet our top-line expectations, and far exceed our profitability expectations, even in the face of industry headwinds.”
Net sales in the third quarter ending Sept. 30 fell 13 percent year-over-year to $99.9 million, in line with its forecast.
For the first nine months of the year, net sales totaled $302.6 million, down 6 percent.
Notably, Brilliant Earth has been growing its non-bridal fine jewelry offerings, recently introducing a collection with conservationist Jane Goodall.
Non-bridal fine jewelry has a lower average price point, and so its average order value (AOV) has suffered.
The total number of orders in the quarter slipped 1 percent, while AOV fell 12 percent. For the first nine months of the year, total orders climbed 5 percent while AOV fell 11 percent.
“We continue to have a strong performance in our fine jewelry sales, including encouraging repeat purchase trends, which we see as a positive indicator going into the most important seasonal quarter for fine jewelry,” said Gerstein on the call.
As for its bridal jewelry, Kuo said the company expects that engagements will continue their gradual path to normalization.
Gerstein noted it has seen sequential improvement in engagement ring bookings at its showrooms.
“As we’re continuing to invest in our brand, we are seeing improvement within bridal as well as outside bridal overall,” she said.
Net loss in the third quarter was $1.1 million compared with a net income of $2 million in the prior-year period.
For the first nine months of the year, net income totaled $1.4 million, down 51 percent year-over-year.
Kuo noted on the call that the company has had increased employee costs due to a larger showroom footprint.
During the quarter, the company opened its second Boston location in Chestnut Hill, with a third location to open in the city in the coming weeks. It also recently opened its first ground-level store in New York City’s NoLiTa neighborhood.
The jewelry retailer plans to have 40 locations by the end of the year.
Gross profit in the quarter was $60.8 million, or a 61 percent gross profit margin, compared to $66.8 million, or a 59 percent gross profit margin, in the prior-year period.
For the first nine months of the year, gross profit was $183.2 million, or a 61 percent gross profit margin, down slightly compared to $184 million, or a 57 percent gross profit margin, in the prior-year period.
Related stories will be right here …
On an earnings call Thursday evening, Chief Financial Officer Jeff Kuo said, “We’re pleased to report a quarter where we continued to successfully drive our strategic initiatives, innovate, meet our top-line expectations, and far exceed our profitability expectations, even in the face of industry headwinds.”
Net sales in the third quarter ending Sept. 30 fell 13 percent year-over-year to $99.9 million, in line with its forecast.
For the first nine months of the year, net sales totaled $302.6 million, down 6 percent.
Notably, Brilliant Earth has been growing its non-bridal fine jewelry offerings, recently introducing a collection with conservationist Jane Goodall.
Non-bridal fine jewelry has a lower average price point, and so its average order value (AOV) has suffered.
The total number of orders in the quarter slipped 1 percent, while AOV fell 12 percent. For the first nine months of the year, total orders climbed 5 percent while AOV fell 11 percent.
“We continue to have a strong performance in our fine jewelry sales, including encouraging repeat purchase trends, which we see as a positive indicator going into the most important seasonal quarter for fine jewelry,” said Gerstein on the call.
As for its bridal jewelry, Kuo said the company expects that engagements will continue their gradual path to normalization.
Gerstein noted it has seen sequential improvement in engagement ring bookings at its showrooms.
“As we’re continuing to invest in our brand, we are seeing improvement within bridal as well as outside bridal overall,” she said.
Net loss in the third quarter was $1.1 million compared with a net income of $2 million in the prior-year period.
For the first nine months of the year, net income totaled $1.4 million, down 51 percent year-over-year.
Kuo noted on the call that the company has had increased employee costs due to a larger showroom footprint.
During the quarter, the company opened its second Boston location in Chestnut Hill, with a third location to open in the city in the coming weeks. It also recently opened its first ground-level store in New York City’s NoLiTa neighborhood.
The jewelry retailer plans to have 40 locations by the end of the year.
Gross profit in the quarter was $60.8 million, or a 61 percent gross profit margin, compared to $66.8 million, or a 59 percent gross profit margin, in the prior-year period.
For the first nine months of the year, gross profit was $183.2 million, or a 61 percent gross profit margin, down slightly compared to $184 million, or a 57 percent gross profit margin, in the prior-year period.
As for the holiday season, Gerstein said the retailer is well-positioned for success due in part to its increased footprint, allowing it to cater to last-minute shoppers.
Its holiday gift guides will highlight several of its fine jewelry collections, including “Sol,” Zodiac,” “Jane Goodall,” and diamond essentials.
On the topic of potential tariffs, Gerstein said, “Because we have a very diverse supply chain, I feel comfortable that we’re able to adapt quickly depending on what we see as it relates to tariffs,” adding the company has dealt with this before during the COVID-19 pandemic.
Looking to the fiscal year ahead, Brilliant Earth is reiterating its forecast of full-year net sales of $410 million to $425 million.
Adjusted EBITDA is expected to be in the range of $14 million to $16 million, raised from its previous guidance of $12 million to $16 million.
Kuo attributed the EBITDA raise in part to its ability to manage operating expenses, including its marketing spend.
The retailer has said its Q4 performance is expected to be stronger than Q3 from a top-line perspective.
“We expect Q4 to come in stronger and we also feel like we’re very well-positioned as we see an increase in demand to be able to react very quickly and very nimbly,” said Gerstein.
Editors' Picks
Sponsored by
More on Financials
The Latest
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
Weekly QuizFeb 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsFeb 05, 2026
Borsheims to Undergo Massive Renovation in the Spring The Omaha jewelry store’s multi-million-dollar renovation is scheduled to begin in mid-May and take about six months.
CollectionsFeb 05, 2026
Marco Bicego’s Amethyst Collection Travels to a Purple ParadiseThe “Paradise Amethyst” collection focuses on amethyst, pink tourmaline, garnet, and 18-karat yellow gold beads.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
ColumnistsFeb 04, 2026
January Jewelry Sales: More Dollars Spent, Fewer Units Sold Sherry Smith unpacks independent retailers’ January performance and gives tips for navigating the slow-growth year ahead.
MajorsFeb 04, 2026
What Designers Should Know About Saks Global’s BankruptcyFrom how to get an invoice paid to getting merchandise returned, JVC’s Sara Yood answers some complex questions.
TrendsFeb 04, 2026
Amanda’s Style File: February Birthstone BlissAmethyst, the birthstone for February, is a gemstone to watch this year with its rich purple hue and affordable price point.
MajorsFeb 04, 2026
Marco Bicego Names New Global Marketing DirectorThe Italian jewelry company appointed Matteo Cuelli to the newly created role.
MajorsFeb 04, 2026
Frederick Goldman Updates Leadership TeamThe manufacturer said the changes are designed to improve speed, reliability, innovation, and service.
Policies & IssuesFeb 03, 2026
Tariff Relief on Horizon for India as Trump, Modi Make DealPresident Trump said he has reached a trade deal with India, which, when made official, will bring relief to the country’s diamond industry.
CollectionsFeb 03, 2026
Jade Trau Releases New Charms, Introduces RondellesThe designer’s latest collection takes inspiration from her classic designs, reimagining the motifs in new forms.
WatchesFeb 03, 2026
Casio America Calls Jersey City HomeThe watchmaker moved its U.S. headquarters to a space it said fosters creativity and forward-thinking solutions in Jersey City, New Jersey.
SourcingFeb 03, 2026
Nivoda Reveals Upgraded Gemstone MarketplaceThe company also announced a new partnership with GemGuide and the pending launch of an education-focused membership program.
GradingFeb 02, 2026
IGI to Acquire American Gemological Laboratories IGI is buying the colored gemstone grading laboratory through IGI USA, and AGL will continue to operate as its own brand.
CrimeFeb 02, 2026
Ylang 23’s Dallas Store BurglarizedThe Texas jeweler said its team is “incredibly resilient” and thanked its community for showing support.
EditorsFeb 02, 2026
Stars Choose Chokers, Elongated Earrings at 2026 GrammysFrom cool-toned metal to ring stacks, Associate Editor Natalie Francisco highlights the jewelry trends she spotted at the Grammy Awards.
CollectionsFeb 02, 2026
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the fact that the 2026 Olympics are taking place in two different cities.
SurveysJan 30, 2026
These Are the Top Brands of 2026, Says YouGovFrom tech platforms to candy companies, here’s how some of the highest-ranking brands earned their spot on the list.
CollectionsJan 30, 2026
Follow the Beat With Etiq’s ‘Khol’ RingThe “Khol” ring, our Piece of the Week, transforms the traditional Indian Khol drum into playful jewelry through hand-carved lapis.
MajorsJan 30, 2026
Arch Crown’s 2026 ‘Tag & Label’ Catalog Is HereThe catalog includes more than 100 styles of stock, pre-printed, and custom tags and labels, as well as bar code technology products.
CollectionsJan 29, 2026
Ghirardelli’s ‘Chocolocket’ Returns for Valentine’s DayThe chocolatier is bringing back its chocolate-inspired locket, offering sets of two to celebrate “perfect pairs.”
AuctionsJan 29, 2026
These Were Bonhams’ Top 10 Jewelry Lots in 2025The top lot of the year was a 1930s Cartier tiara owned by Nancy, Viscountess Astor, which sold for $1.2 million in London last summer.
SourcingJan 29, 2026
Stuller Website to Mark AGTA-Sourced GemstonesAny gemstones on Stuller.com that were sourced by an AGTA vendor member will now bear the association’s logo.
