EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond CutsThe singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.
FinancialsMay 05, 2016
Engagement Ring Sales Down Again for Blue Nile
The online retailer reported that it sold a total of $56.7 million in diamond engagement rings in the United States in Q1 2016, down from $61 million in Q1 2015.
Seattle--For the second quarter in a row, Blue Nile’s diamond engagement ring sales have slipped, with more people buying their rings on the website but the average sale price declining.
The Seattle-based e-tailer reported Thursday that U.S. engagement sales totaled $61.0 million in the first quarter ended April 3, down 7 percent from $56.7 million in the first quarter 2015.
The decrease comes on the heels of the 8 percent drop in U.S. engagement sales Blue Nile reported in the fourth quarter 2015.
On a conference call held Thursday morning, CEO Harvey Kanter described the first quarter as “challenging,” as it expected. He noted that the company’s average sale price declined and that it continues to see weakness in sales at the high end of the market.
The drop in engagement sales, the company’s core business, dragged down overall sales.
Blue Nile reported a 3 percent year-over-year decline in net sales, from $106.5 million to $103.1 million. Net income was down slightly, from $1.2 million to $1.1 million.
Non-engagement sales, a category that encompasses all other jewelry sold on the website including wedding bands, were up 4 percent from $26 million to $27.1 million.
Executives said on Thursday’s conference call that they continue seeing double-digit growth in wedding band sales while sales of diamond fashion jewelry grew in the mid-single digits. Sales of other fashion jewelry declined.
The company has added another jewelry designer to its Designer Collective, Angela George.
Also on Thursday’s call, executives spoke briefly about the company’s “webrooms,” the physical locations it is opening in malls in New York, Virginia and Oregon where consumers can try on engagement rings; all purchasing, however, still happens online.
Blue Nile has one webroom open so far, in Roosevelt Field Mall on New York’s Long Island.
Kanter said the other New York webroom, plus the ones in Virginia and Oregon, are slated to open by mid- to late summer. He also said that the company is now working on a plan to open additional webrooms in 2017, though he provided no further details on location or timing.
When asked how the company expects the webrooms to contribute to sales volume on the website in the second quarter and next year, Blue Nile Chief Financial Officer David Binder said, “It’s very much a learning period for us. We’ve very optimistic and we’re also very cautious in what a different market may do
relative to the success we’ve had a Roosevelt Field.”
Blue Nile said it anticipates sales of $114 to $117 million in the second quarter and is maintaining its full-year guidance of $465-$495 million in net sales.
Blue Nile said it anticipates sales of $114 to $117 million in the second quarter and is maintaining its full-year guidance of $465-$495 million in net sales.
More on Financials
The Latest
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem MineDubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income WorriesPlans for dining out, booking vacations, and buying big-ticket items were down.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.
Weekly QuizAug 22, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
WatchesAug 26, 2025
Nick Jonas Gets Nostalgic in New Fossil CampaignThe Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
IndependentsAug 26, 2025
Hinkamp Jewelers Celebrates 70 YearsThe family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.
ColumnistsAug 26, 2025
Back to School, Back to Style: Why August is Prime Time for Self-GiftingIn his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.
WatchesAug 25, 2025
London Jewelers Brings Rolex to Historic Hamptons HomeThe new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.
CollectionsAug 25, 2025
Tennis Star Madison Keys Has the Perfect Necklace for the US OpenThe Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.
TrendsAug 25, 2025
Amanda’s Style File: That’s a WrapWrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.
WatchesAug 25, 2025
WatchTime NY Show Returns for 10th Anniversary EditionThe three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.
GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry EmpireThree C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”
MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
MajorsAug 21, 2025
Tiffany & Co. Pops Up at 2025 US OpenThe pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.
IndependentsAug 20, 2025
Bellman’s Jewelers Opens Second Store After COO's TikTok Takes OffThe New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaThe investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
