During the 2014 financial year, Blue Nile, which included 53 weeks, saw sales growth by 5.2% to $ 473.5 million, in value terms, growth was 5.6% to $ 386.9 million, while profit for the entire 2014 financial year fell by 10.5% to $ 9.7 million, according to a press release.
In the fourth quarter of last fiscal year, Blue Nile's profit rose 7.9% to $ 157.5 million. The value of goods went up by 8.6% to $ 129 million. Net income fell 2% to $ 4.8 million in the fourth quarter.
In the segment of wedding jewelry in the US in the fourth quarter there was an increase of 7.9% to $ 85 million, for the whole year the growth was 4.1% to $ 266.4 million. Sales of conventional jewelry increased by 6.3% to $ 48.8 million in the fourth quarter and 4.2% to $ 126 million for the whole year.
International sales of diamonds and jewelry showed an increase of 10.9% to $ 23.6 million in the last quarter of the previous fiscal year, while growth over the entire annual period was 10.8% to $ 81.1 million.
"The fourth quarter of fiscal year 2014 continued the positive dynamics of the third quarter, despite the fact that this period was difficult for all retailers of jewelry products," said Harvey Kanter, president and CEO of Blue Nile, "Although these results are lower than expected, the growth of the industry confirms that we have made progress on this issue.We are confident in our main strategy, as more and more people realize that online shopping, especially in Blue Nile, provides an excellent choice and the best in the ind quality at a minimum price.This is another reason why, despite the difficult period for the industry, our company continued to grow. "