|
RAPAPORT... Blue Nile Inc. reported that its revenue rose 18.7 percent year on year to $108 million for the second quarter that ended on June 30. Cost of sales for the online diamond and jewelry retailer jumped 19.1 percent to $87.9 million. Profit surged 39.8 percent to $2.2 million, or 18 cents per share. International sales leaped 19.1 percent to $17.1 million during the second quarter. U.S. engagement sales surged 22 percent to $63.9 million and non-engagement sales rose 11.3 percent to $27 million. "We are excited to have achieved double-digit revenue growth in the second quarter of 2013 across the three main categories of our business: U.S. engagement, U.S. non-engagement and international," said Harvey Kanter, the CEO of Blue Nile. "This represents the fifth consecutive quarter of double-digit growth and further demonstrates our position as a leading global retailer of high-quality diamonds and fine jewelry. We continue to provide our customers with a superior shopping experience, unparalleled value proposition, and top-notch customer service. We are also excited by our ongoing development of compelling website features that will be dynamically available across all devices.” Mark Vadon, the founder and board chairman who announced that he will be stepping down in December, added, “Founding and being a part of Blue Nile for the past 14 years has been a great honor, and I am tremendously proud of the entire team for fostering our culture of innovation and obsession over each and every customer. After working with Harvey and his leadership team over the last year and seeing the impressive growth trajectory of the business, the entire board and I feel confident passing the chairmanship to Harvey to continue to build a global consumer brand.”
|