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
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
