Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

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GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Diamond Retailer Blue Nile Reports Net Sales of $348M for 2011

20 february 2012

Blue Nile, the online retailer of diamonds and fine jewelry, has reported its financial results for its fourth quarter and fiscal year ended January 1, 2012.
Net jewelry and diamond sales for the fourth quarter decreased 2.1% to $112.3 million from $114.8 million in the fourth quarter of 2010, Israelidiamond.co.il reported. Operating income for the quarter was $6.3 million, compared to $9.2 million in the fourth quarter of 2010. Net income for the fourth quarter totaled $4.2 million.
For the full year, Blue Nile reported net sales of $348 million, compared to $332.9 million for the full year of 2010, an increase of 4.5%. Operating income for the full year was $16.9 million compared to $21.3 million in the prior year.
Net cash provided by operating activities totaled $15.4 million for the year.
Blue Nile CEO Vijay Talwar said that while the fourth quarter had been “challenging” due to weaker demand from high-end diamond customers, the company had implemented new strategy designed to accelerate growth.
As a result, the diamond company saw “positive momentum,” seeing new customer growth of 15%, with order growth of 22% and unit growth of 30% compared to Q4 2010, Talwar added.
The company also announced that on February 7, 2012, Blue Nile's Board of Directors authorized the repurchase of up to $100 million of the company's common stock over 24 months.