There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.
Blue Nile Q1 sales up, mobile visits climb
Online retailer Blue Nile reported that sales hit $103.7 million in the company’s first quarter, a 7 percent year-over-year increase.
Seattle--Online retailer Blue Nile reported that sales hit $103.7 million in the company’s first quarter, a 7 percent year-over-year increase.
Sales of engagement rings in the United States during the first quarter ended March 30 were up 8 percent, increasing from $55.3 million to $59.7 million.
Non-engagement sales also were up, rising 8 percent to $26.1 million, led by diamond jewelry and wedding bands, both of which grew by double digits, according to Blue Nile, as the company works to diversify the types of products they sell. The pearl and gem categories also continue to be important for the retailer.
Blue Nile said it remains focused on three major initiatives in 2014--enhancing the user experience on its website, developing the product lines in bridal and diamond jewelry, and expanding internationally by building a presence in China and growing in the established overseas markets.
The company is working to create a seamless shopping experience across all devices. During the first quarter, the company launched a number of new adaptive features and refined aspects launched late last year.
Revenue attributed to visitors from mobile devices in the first quarter grew by more than 40 percent, the company said in its conference call on Thursday, and revenue from tablets grew by over 20 percent.
“When we look at the conversion rates and revenue that’s being attributed to people that first come to us on their phone or on their tablet, we’re looking at pretty significant double-digit growth rates in revenue per visit on those devices versus last year, and that’s something that we can see directly correlates with platform enhancements that we began last year,” said Chief Financial Officer David Binder.
RELATED CONTENT: Blue Nile collaborates for more designer offerings
In addition, after seeing success with its initial partnership with fashion designer Monique Lhuillier, the company decided to expand its designer offerings through its “Designer Collective,” a section of the site that showcases a number of established and emerging brands. The online collection offers 14- and 18-karat gold and sterling silver pieces created uniquely for Blue Nile, ranging in price from $55 to $6,000.
While it’s still early days for the collective, CEO Harvey Kanter said that “the customer is definitely responding to certain elements,” adding that they have “seen the customers starting to pick and choose between the offers,” to give them more direction for the future.
Blue
International sales for the company in the first quarter increased 2 percent at constant exchange rates, from $17.6 million in 2013 to $17.9 million in 2014.
Looking ahead at the second quarter of 2014, Blue Nile said that it expects net sales to be between $108 million and $113 million.
The Latest
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The former WJA executive director is MFM’s new managing director.
Ho Brothers offers scalable solutions for the future of custom jewelry.
DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.
Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.
Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.
The retailer previously turned down an $8.4 billion offer in 2018.
The Florida store’s owner Miguel Gonzalez is retiring.
The lab stresses the importance of accurate identification, as the difference in price is “substantial.”
The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.
One is reserved for a NAJA member, the other for a non-member.
Longtime employees Carie Lehrke and Megan Mattice have received promotions.
Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.
Chris Clipper and Robert Lepere join the company with 50 years of combined experience.
The trendy, metallic earrings wink at classic spring colors.
JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.
The miner’s March auction generated $19 million.
Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.
“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."
Elvis gave the watch to actress Dodie Marshall after filming “Easy Come, Easy Go.”
The Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design was presented to a graduate of the GIA school in Taipei.
The man was charged with money laundering in connection with the theft of gold, silver, and platinum over the course of three years.