Archive

  • Seattle-based online jewelry retailer Blue Nile, which cleared about $500 million in revenue last year, has place an embargo on Zimbabwean diamonds over reports of human rights abuses in the Marange district, several Zimbabwe news outlets are reporting.

  • Online diamond and jewelry retailer Blue Nile has appointed Jason Goldberger, former chief digital officer and president of Target.com, as its new president and CEO, replacing Harvey Kanter, who will serve as Chairman of the Board of Directors and continue to play an important role in the strategic direction of the company. "Goldberger brings to Blue Nile more than 20 years of executive leadership in merchandising, digital innovation, marketing, and product management across leading online retail organizations including Target, Gilt Groupe, Hayneedle, and Amazon.

  • The Seattle-based online jeweler Blue Nile has partnered with online diamond buyback company Mondiamo to create what it calls a transparent process for those looking to sell their diamond jewelry, writes The Seattle Times. The service works like this: Customers enter details of their stone’s grading report on the site and receive a minimum guaranteed cash offer. (For non-GIA reports, the price is adjusted based on a proprietary algorithm.) If there is no report, no offer is given.

  • In her recent article for Bloomberg, "Happy Couples Don't Buy Diamonds Online the Way They Used To," Polly Mosendz analyzes the changing landscape for diamond engagement rings - and in particular the online sales thereof. She notes firstly the trend for diamond rings to change hands online in way they never did previously, resulting in tremendous growth in the second-hand market.

  • In a surprise announcement, online jeweler Blue Nile said Monday that it has entered into an agreement to be taken private by an investor group comprised of funds managed by Bain Capital Private Equity and Bow Street LLC, writes Anthony DeMarco for Forbes. The all-cash deal is valued at $500 million.

  • Online jeweler Blue Nile has opened its fourth Webroom, and plans to open a fifth by Thanksgiving at a yet-unnamed location. Webrooms are display locations that provide a retail setting for consumers to see more than 400 goods available for sale which can then be ordered on a PC, by smartphone or via a tablet. Sales can also be made online via in-store tablets and with the help of non-commissioned consultants. The fourth Webroom is in the Washington Square mall in Portland, Oregon, and the first to open on the West Coast, just a few hours south of Blue Nile headquarters in Seattle.

  • Online diamond and jewelry retailer Blue Nile reported flat second-quarter sales and lower profits for its fiscal second quarter which ended on July 3 from a year earlier as it was hit by lower average prices for its goods. Net sales were $113.8 million compared with $113.7 million for the same quarter last year. Analysts had been expecting earnings of $114.10 million.

  • Online diamond and jewelry retailer Blue Nile has opened the second of its 'Webrooms' at the Westchester Mall in White Plains, New York. It opened its first Webroom in June 2015 at Roosevelt Field Mall in Garden City, New York. Webrooms are display locations that provide a retail experience for consumers to see more than 400 goods available for sale which can then be ordered on a PC, by smartphone or via a tablet. Sales can also be made online via in-store tablets and with the help of non-commissioned consultants.

  • Online diamond jewelry seller Blue Nile announced earlier this month that it would temporarily no longer ship to South Dakota in response to a new state law that says remote sellers must collect sales tax from local residents, even if, and this where the law differs from similar state laws, they have no physical presence in the state (known as nexus). The rule applies only to companies that sell more than $100,000 or process more than 200 in-state transactions a year.

  • Internet  loose diamonds and jewelry retailer Blue Nile reported a slight decline in sales of 3.2% in its first fiscal quarter due to a drop in engagement ring sales and a “challenging environment” overall. It posted revenues down to $103.1 million, on the back U.S. sales of engagement jewelry dropping 7%. The seller's profits plunged 9% to $1.1 million, but was more upbeat about its second quarter when it expects sales of $114 million to $117 million which would be a 3% rise on last year. Sales in fiscal year 2016 will also show a 3% increase to between $465 million to $495 million.

  • Online diamond and jewelry retailer Blue Nile is opening yet another physical location as it seeks to unite Internet sales with a brick-and-mortar presence. The latest 'Webroom' will be opened in the summer at the Washington Square Mall in Portland, Oregon. Last week, Blue Nile announced its third such online/offline hybrid retail model would be opened near Washington D.C. following two such stores being opened in New York.

  • Online diamond and jewelry retailer Blue Nile is to open its third 'Webroom' at the Tysons Corner Center mall near Washington D.C. The firm said the Webroom is expected to be opened by mid-summer. Webrooms are display locations that provide a retail experience for consumers to see goods available for sale which can then be ordered on a PC, by smartphone or via a tablet. Sales can also be made online via in-store tablets and with the help of non-commissioned consultants.

  • Shares of Blue Nile, the online diamond and jewelry retailer, are down more than 20 percent in Thursday morning trading after the company posted “disappointing” Q4 results, according to CEO and President Harvey Kanter. Blue Nile's sales tumbled nearly 5% year-on-year in the fourth quarter. This was particularly disappointing given that the fourth quarter represents the company’s important period of holiday jewelry sales.

  • Online jewelry retailer Blue Nile announced that its sales fell 4.8% to $150.0 million for the fourth quarter ended January 3. Q4 engagement net sales in the U.S. declined 7.7% to $78.4 million, while U.S. Q4 non-engagement net sales fell 0.3% to $48.7 million. "While sales were disappointing, we delivered an eight year high in EPS.

  • Blue Nile's 15 second commercial titled “Engagement Ring Shopping Shouldn’t Be Scary,” showing a millennial shopper welcomed by a scary looking brick-and-mortar jeweler, is causing much debate among industry analysts.

  • Blue Nile, the leading online retailer of diamonds and fine jewelry, today reported financial results for its third quarter ended October 4, 2015. Net sales increased 4.0% to $109.9 million for Q3 compared to $105.8 million for Q3 in 2014. Net income totaled $2.0 million, or $0.17 per diluted share versus $1.7 million, or $0.14 per diluted share in 2014. International net sales for Q3 2015 were down 7.2% to $19.9 million, compared to $21.5 million during the same period in 2014. Excluding the impact from changes in foreign exchange rates, international net sales increased 3%. U.S.

  • JCK Magazine presents the latest U.S. Internet jeweler data provided by Internet Retailer's Luxury E-Retailers Report (paid content). Blue Nile leads the pack with $473.5 million in Internet sales, followed by two (undisclosed) Chinese sites, then Signet (all brands) at $275 million and Tiffany.com at $256 million. JCK's Rob Bates notes that, "Even today, with all the hype about e-commerce, most jewelry is still purchased in brick-and-mortar stores.

  • Blue Nile, the largest online retailer of diamonds, intends to continue rolling out its brick-and-mortar 'webrooms', albeit in limited fashion. The company will open three to four more brick-and-mortar locations in 2016, CEO Harvey Kanter told the B. Riley & Co. and Great American Group Consumer Conference on Sept.16. So far, the company has limited the stores to (US) states in which it charges sales tax (New York and Washington), but Kanter hinted the store may eventually venture beyond that.

  • Online diamond and jewelry retailer Blue Nile posted a sales rise in its second fiscal quarter of 7 percent to $113.7 million. U.S. engagement ring sales showed a rise of around 8 percent to $65.5 million. Meanwhile, outside of the United States, the firm is continuing to focus on China where there was growth of 59percent in the second quarter, and the Asia-Pacific region expanded by 28 percent and continues to account for more than 50 percent of the company’s international revenue.

  • Online diamond and jewelry retailer Blue Nile posted a modest increase in total sales to $106.5 million for its first fiscal quarter which ended on April 5 from $103.7 million a year before while international sales were stronger. However, net income was just $1.2 million.

  • The diamond and jewelry seller is to open its new “Web Room” concept experience at Roosevelt Field on Long Island.

  • The US-based online loose diamond and jewelry retailer sees middle-class couples with bigger disposable incomes who are planning to wed as an important target market to fuel future growth. “We’re really excited about China. The engagement ring market there is already bigger than that of the US,” said Jon Sainsbury, president of international at Blue Nile. “On average, the Chinese are not spending as much yet. But the middle-class continues to grow. The market potential is huge.”