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Here’s How Blue Nile Plans to Stop Sliding Sales

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Two factors are working against the online retailer at the moment.

Blue Nile announced that total fourth quarter sales fell 4.8 percent from the previous year due to “continued weakness in high-ticket purchases and foreign currencies,” according to Rapaport. The article says that CEO Harvey Kanter’s plan to reverse course is to “push harder on elements that are working” such as engagement rings and a promising Webroom concept. The bright side, however, is that profit for the quarter increased by 4.3 percent thanks to cost-cutting measures, with Kanter reporting an eight-year high in earnings per share.

Read more at Rapaport

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