Seattle – Blue Nile Inc. reported increases in net income and sales during the first quarter of 2014, compared to the same period in the prior year. Net income rose 30% to $1.07 billion, from $832 million.
Net sales increased 6.8% to $103.7 million, compared to $97.1 million. Looking ahead, Blue Nile expects net sales between $108 and $113 million during the second quarter of fiscal 2014 and net sales between $485 and $510 million for fiscal 2014.
"As we announce our financial performance, we remain steadfast in our execution of three key initiatives in 2014," said Harvey Kanter, president and CEO. "These include enhancing the user experience; developing our product lines in bridal and diamond jewelry, as well as fashion pieces through The Designer Collective; and expanding internationally by building our presence in China and growing our established markets. Through these initiatives, we continue on our quest to be nothing less than the worldwide leading retailer of bridal and fine jewelry."