Home / Knowledge / News / Fashion / Blue Nile delivers strong financial results for Q1

Blue Nile delivers strong financial results for Q1

07
May '08
Blue Nile Inc reported financial results for its first quarter ended March 30, 2008.

The company posted net sales of $70.5 million, up from $67.9 million in the first quarter of 2007. Operating income for the quarter totaled $3.0 million. Net income totaled $2.6 million, or $0.16 per diluted share.

Net cash provided by operating activities totaled $29.4 million for the trailing twelve month period ended March 30, 2008. Non-GAAP adjusted free cash flow was $24.2 million for the trailing twelve month period ended March 30, 2008.

"We are pleased to have delivered financial results that exceeded our expectations, particularly in light of the weak consumer environment in the U.S.," said Diane Irvine, Chief Executive Officer.

"In this uncertain environment, we are keenly focused on enhancing the Blue Nile customer experience and vigorously managing our costs. We will invest prudently in our business and execute our unique business model to build long-term value for our shareholders."

Irvine concluded, "Our international business continued its rapid growth during the quarter, and we are extremely pleased with the early results of our recent launches into 25 new countries. Customers around the world are embracing the Blue Nile value proposition in increasing numbers."

During the quarter, the company repurchased 990,700 shares of its common stock for $41.7 million.

In a separate release, the Company announced the appointment of Marc Stolzman as Chief Financial Officer. Stolzman will join the Company on June 9, 2008.


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Dec 2020

Pandemic to put massive downward pressure on wages: ILO

Informal workers' wages have witnessed steeper cuts than formal...

Pic: SCA

Textiles | On 5th Dec 2020

SCA releases sustainability targets to be met by 2030

In order to make long term priorities and to ensure sustainable...

Pic: Shutterstock

E-commerce | On 5th Dec 2020

REV subsidiary buys bankrupt Stein Mart for $6.02 mn

US-based Retail Ecommerce Ventures (REV) recently announced that a...

Interviews View All

Evelyne Cholet, UCMTF

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Footwear industry, Head honchos

Footwear industry
Head honchos

Personalised and differentiated footwear is in high demand

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Francesca Polato,

Francesca Polato

Berto Industria Tessile was founded in Bovolenta, a small town in the...

Amol Bhagwati,

Amol Bhagwati

A textile finishing solution provider, Inspiron Engineering Private...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search