Blue Nile’s net sales drop 1.3% in Q2

Engagement jewelry net sales in U.S. slips 4.6%
Blue Nile’s net sales drop 1.3% in Q2

For its second quarter closing June 20, 2014, Blue Nile recorded a 1.3 percent drop (on y-o-y basis) in its net sales valuing US$106.6 million, reports say. The quarter delivered a stable net income, valuing US$2.2 million.

Net jewellery sales of only engagement jewellery in the U.S. dropped 4.6 percent to US$60.9 million, while the non-engagement jewelry category in the U.S. delivered a 2.6 percent increase in net sales to US$27.7 million. International jewellery net sales rose 4.8 percent to US$18 million, while the said sales excluding impact from changes in foreign exchange rates, rose 6.7 percent, reports say.

The company’s operating income valued US$3.2 million, representing an operating margin of 3 percent of net sales.

The company attributed its performance to the diamond prices prevailing in the second quarter, reports say.

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