Blue Nile’s Q2 net sales reach $113.8 million

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 Blue Nile’s Q2 net sales reach $113.8 millionBlue Nile, Inc. announced its financial results for its second quarter ended July 3, 2016. In the period, the company recorded net sales worth $113.8 million, marginally increasing from $113.7 million for the second quarter ended July 5, 2015. Net income totaled $2.1 million, from $2.3 million in the same quarter last year.

International net sales stood at $20.8 million, rising 6.4 percent from $19.5 million for the second quarter 2015. Excluding the impact from changes in foreign exchange rates, international net sales increased 9.4%.

U.S. non-engagement net sales rose 5.9 percent to $30.4 million, while the U.S. engagement net sales dropped 4.4 percent to $62.6 million.

Gross profit totaled $22.4 million. As a percent of net sales, gross profit was 19.7 percent compared to 19.4 percent for the second quarter 2015.

“Blue Nile continues to reimagine the retail experience by bridging the on and offline user experience through the Webroom concept, which will feature five locations by year end,” said Harvey Kanter, Blue Nile Chairman, CEO and President. “Our results reflect a higher level of investment than we anticipated, and while this impacted short-term results, we believe it will create long-term scale and profitability.”

In the third quarter of 2016, the company expects net sales to touch between $107 million and $111 million.



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