According to the results of the third quarter, which ended on September 30, the company Blue Nile recorded revenue growth of 10.1% on a year-on-year basis to $ 98.925 million, Rapaport reports. Meanwhile, the cost of sales increased by 10.1% to $ 80.238 million. The company's profit jumped 66.9% to $ 2.906 million, or 23 cents per share. The share of gross profit in net sales increased to 18.9% compared to 18.8% for the same period last year.
Income from the sale of engagement jewelry in the US rose during the reporting period by 7.1% to $ 57.9 million, while sales of other products increased by 9.6% to $ 23.9 million.
International sales jumped by 22.9% and reached $ 17.1 million (excluding currency fluctuations, this growth was 27.6%).
Harvey Kanter (Harvey Kanter), CEO of Blue Nile, notes that the company demonstrates sales growth for the sixth consecutive quarter. "We are looking forward to the Christmas season and are ready to offer customers a rich assortment of jewelry products that can be purchased online with a computer, tablet or phone, and unsurpassed service," Kanter said.
According to the forecast of the company Blue Nile, its revenues in the fourth quarter will be from $ 146 million to 161 million.