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Mark Vadon pleased with Q4 2007 financial performance
13 Feb '08
3 min read
"As we enter 2008, we are well positioned to enhance our category leadership," continued Vadon. "Our competitive position is strong, and we have an incredible team that is among the best in all of e-commerce. Given the current economic environment, however, we believe it is prudent to be extremely cautious in our expectations for the year. There is tremendous uncertainty in the luxury retail sector, which is experiencing a widely reported consumer slowdown.
Within this challenging environment, we will be disciplined in our execution of our unique business model. We will continue to focus obsessively on our customers, providing an exceptional Blue Nile experience. I firmly believe that challenging times can provide opportunities to create great value for our shareholders over the long term."
Blue Nile announced that its Board of Directors authorized the repurchase of up to an additional $100 million of the Company's common stock over 24 months. The Company's current repurchase authorization now totals $150 million.
The timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.
In a separate release, the Company announced Mark Vadon has assumed the new roleof Executive Chairman of Blue Nile. Diane Irvine has been named the new Chief Executive Officer.
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Within this challenging environment, we will be disciplined in our execution of our unique business model. We will continue to focus obsessively on our customers, providing an exceptional Blue Nile experience. I firmly believe that challenging times can provide opportunities to create great value for our shareholders over the long term."
Blue Nile announced that its Board of Directors authorized the repurchase of up to an additional $100 million of the Company's common stock over 24 months. The Company's current repurchase authorization now totals $150 million.
The timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.
In a separate release, the Company announced Mark Vadon has assumed the new roleof Executive Chairman of Blue Nile. Diane Irvine has been named the new Chief Executive Officer.
Click here to view more:
Blue Nile Inc
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