CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a ZooThe pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.
FinancialsFeb 12, 2016
Blue Nile to Open Second Brick-and-Mortar Spot
The announcement comes as the e-tailer reports “disappointing” fourth quarter results, with U.S. engagement ring sales slipping nearly 8 percent.
Seattle--Blue Nile said Thursday that its second physical location will open in early summer at a mall in suburban New York City, and that continued expansion of its “webroom” concept is one of its focal points coming off a disappointing fourth quarter.
Net sales for the fourth quarter ended Jan. 3, 2016 totaled $150 million, down 5 percent from the fourth quarter 2014, when sales reached $157.4 million.
For the fiscal year, net sales reached $480.1 million, an increase of 1 percent.
Blue Nile’s 2014 fiscal year, however, contained an extra week, which fell in the fourth quarter. Excluding the impact of that extra week, sales were down 1 percent year-over-year in Q4 and up 3 percent on the year.
In the United States, it was the e-tailer’s engagement ring sales that were hit the hardest in the fourth quarter, falling 8 percent from $85 million to $78.4 million. For the full year, engagement ring sales totaled $269.9 million, a 1 percent increase over 2014.
Non-engagement net sales were down just 0.3 percent in the fourth quarter and rose 2 percent for the year.
International sales were up 5 percent and 10 percent on a constant-exchange-rate basis for the fourth quarter and full year, respectively.
Chairman, President and CEO Harvey Kanter said Thursday that lower selling prices for its core engagement ring products and weakness in sales at the high end contributed to what he described as a “disappointing” fourth quarter.
“As we look out on 2016, we will push harder on elements that are working: engagement ring units, wedding band attach rates, continued expansion of margin and the webroom concept,” he said.
In June 2015, Blue Nile opened its first physical location, a webroom where consumers can handle and try engagement rings and interact with a salesperson. All the buying, though, still happens online through BlueNile.com; customers do not walk out of the store with any physical merchandise in hand.
On Thursday, the company announced that it will open its second webroom at The Westchester, a mall in White Plains, N.Y. that’s about 40 miles from its first brick-and-mortar location at the Roosevelt Field Mall in Garden City, N.Y.
Both communities are suburbs of New York City.
Blue Nile said the White Plains store is the first of “up to four” physical locations it plans to open this year, reiterating what Kanter said on the e-tailer’s third quarter earnings call
Editors' Picks
Sponsored by
back in November.
Chief Merchandising Officer Julie Yoakum said the first webroom “greatly exceeded our expectations,” and that “the efficiencies of the webroom and our online model allow us to simultaneously leverage and disrupt the brick-and-mortar experience.”
Looking ahead to 2016, Blue Nile said it expects first quarter sales to total between $103 and $106 million. For the full year, net sales are expected to range between $465 and $495 million.
Chief Merchandising Officer Julie Yoakum said the first webroom “greatly exceeded our expectations,” and that “the efficiencies of the webroom and our online model allow us to simultaneously leverage and disrupt the brick-and-mortar experience.”
Looking ahead to 2016, Blue Nile said it expects first quarter sales to total between $103 and $106 million. For the full year, net sales are expected to range between $465 and $495 million.
More on Financials
The Latest
MajorsApr 02, 2025
Neiman Marcus’ Dallas Flagship Will Remain Open, For NowParent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.
SourcingApr 02, 2025
Winston’s Collection of Natural Color Diamonds Now on Display in D.C. Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Policies & IssuesApr 02, 2025
Jewelers of America to Hold Webinar on TariffsThe virtual event will take place April 7 at 3 p.m.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsApr 02, 2025
Punchmark to Host Client WorkshopThe educational event will take place in Charlotte, North Carolina, this May.
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
