The newly released annual look at the digital world from online and mobile measurement firm comScore makes it quite clear that retailers better be ...
The online jeweler says its U.S. engagement ring sales grew 7%.
Revenue increased 10% year over year for online jeweler Blue Nile Inc. in the third quarter. Blue Nile, No. 74 in the Internet Retailer Top 500 Guide, also reported a 23% increase in global sales.
This “is our sixth consecutive quarter of double-digit growth," says Harvey Kanter, president and CEO. "For the upcoming holiday season, we are excited to feature a rich product assortment delivered through an enhanced user experience on the PC, tablet, and phone, and supported by our industry-leading customer service.”
For the quarter ended Sept. 30, Blue Nile reports:
• Net sales increased year over year 10.0% to $98.9 million from $89.8 million in the same period last year.
• Net income increased 70.6% to approximately $2.9 million in 2013 from about $1.7 million.
• Sales of engagement rings in the United States grew year over year about 7.0% to $57.9 million from $54.1 million.
• Sales in other jewelry categories in the United States increased 9.6% to $23.9 million from $21.8 million in 2012.
• International sales grew year over year about 23.0% to $17.1 million from $13.9 million.
• Selling, general and administrative expenses hit $16.2 million, up 13.3% compared with $14.3 million in the same period in 2012. Those expenses include stock-based compensation of $1.2 million compared with $1.3 million for the same period last year.
Blue Nile said that for the fourth quarter of 2013, it expects net sales to range between $146 million and $161 million.
For the year to date, Blue Nile reports:
• Net sales of nearly $304.1 million, up 15.2% from about $263.9 million.
• Net income of approximately $5.9 million, up 68.5% from $3.5 million for the same period last year.