A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Blue Nile to Open A Fifth Store This Year
The online jewelry retailer continues to sink money into “webrooms” with a fifth planned for later this year, even as sales continue to underwhelm.
Seattle--Blue Nile continues to sink money into “webrooms” with a fifth planned for later this year, even as sales continue to underwhelm.
During its second quarter earnings call Monday evening, President and CEO Harvey Kanter said Blue Nile has “accelerated” the launch of its fifth physical location, which will “hopefully” open by Thanksgiving.
He did not provide any details on its location.
This fifth physical space joins Blue Nile stores in New York state (White Plains and Garden City, both New York City suburbs), Fairfax County, Va. and a not-yet-open webroom in Portland, Ore.
Blue Nile’s physical locations are 500 to 700 square feet in size, employ five to six salespeople plus a general manager, and provide a place where customers can try on engagement rings and other jewelry. All sales still happen online though; shoppers do not walk out of the webrooms with their purchases.
“It’s becoming clear that a segment of our customers want our easy, educational and pressure-free experience in a physical environment,” Kanter said on Monday’s call. “We are bringing the online and offline worlds together.”
He said the company has seen a “marked lift” in sales in a “pretty contained” area around its webroom in Garden City, N.Y., which is located in the Roosevelt Field mall.
Regarding the physical locations in Virginia and White Plains, N.Y., Kanter said one is performing better than the other but did not specify which one.
Investment in more webrooms is part of an overall effort by Blue Nile to “improve the user experience” and help boost sales, which were essentially flat in the second quarter.
Net sales in the second quarter ended July 3 totaled $113.8 million, compared with $113.7 million in the same period last year. Net income dropped 9 percent to $2.1 million, compared with $2.3 million last year.
U.S. engagement ring net sales decreased 4 percent to $62.6 million, and Blue Nile executives said that the online retailer had a particularly difficult June. Sales of engagement rings priced at $25,000 and above improved as compared with previous quarters but still are lagging overall.
U.S. non-engagement net sales (which encompasses everything else the site sells) were up 6 percent to $30.4 million, led by wedding band sales.
International sales were up 6 percent (9 percent on a constant-exchange-rate basis), from $19.5 million to $20.8 million.
Commenting on the results during Monday’s call, Kanter said, “We had some meaningful wins but I will acknowledge upfront that
In addition to continuing to invest in webrooms, Blue Nile is making enhancements to its website that are designed to emulate the experience customers have in its physical locations.
Executives did not elaborate on these enhancement but said they expect them to be complete by the fourth quarter.
The Latest
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.