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Blue Nile 2Q Net Sales Increase 6.7% to $113.7M

Aug 7, 2015 7:46 AM  
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RAPAPORT... Blue Nile, Inc., an online retailer of diamonds and fine jewelry, today reported net sales increased 6.7% to $113.7 million for the second quarter ended July 5, 2015 compared to $106.6 million for the second quarter ended June 29, 2014.

Operating income for the quarter totaled $3.4 million, representing an operating margin of 3.0% of net sales, compared to $3.2 million in operating income and 3.0% operating margin for the second quarter 2014. Net income totaled $2.3 million, or $0.20 per diluted share versus $2.2 million, or $0.18 per diluted share for the second quarter 2014.

U.S. engagement net sales for the second quarter 2015 increased 7.5% to $65.5 million, compared to $60.9 million for the second quarter 2014.U.S. non-engagement net sales for the second quarter 2015 increased 3.5% to $28.7 million, compared to $27.7 million for the second quarter 2014.

"We made good progress on our key initiatives which delivered revenue growth and expanded profitability," said Harvey Kanter, Blue Nile Chairman, CEO and President. "We remain committed to our strategy to further invest in marketing to drive greater awareness; to optimize analytics to refine pricing and grow our margins; and to leverage scale to source products in ways that provide exceptional quality and value to our customers. All of this drives to one goal: moving more consumers of diamonds and fine jewelry to purchase online."

International net sales for the second quarter 2015 were $19.5 million, compared to $18.0 million for the second quarter 2014, an increase of 8.9%. Excluding the impact from changes in foreign exchange rates, international net sales increased 15.3%.
Tags: , Blue Nile, earnings, ecommerce, Online
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