A Diamond Seller That Doesn't Sparkle
Valentine's Day didn't bring good news for online jeweler Blue Nile (NILE). December's quarterly earnings were $0.39 vs. a $0.47 consensus estimate. The full-year 2012 came in at a disappointing $0.65. That was more than 15.5% below 2011's total. Revenues were light for both the quarter and the year.
Worse still, last year's earnings per share were the lowest since 2004, when Blue Nile shares debuted at $20.50 and quickly ran up to $41.70 on great expectations for growth. Is there really a vibrant market for high-ticket jewelry, sight unseen?...236 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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