Online #Jewelry
#Retail Stocks in the News; Blue Nile, Inc. (Nasdaq: $NILE), Reign Sapphire (OTCQB:
$RGNP)
Blue Nile . (Nasdaq: $NILE) Enters Into Definitive Agreement
to be Acquired by Bain Capital Private Equity and Bow Street LLC for
Approximately $500 Million and Reports Third Quarter
Reign Sapphire (OTCQB: $RGNP) signs binding Letter
of Intent to acquire 100% of the assets of custom jewelry company Coordinates
Collection
Point Roberts, WA, Delta BC –November 7 2016 –
Investorideas.com, a global news source and investor resource issues a snapshot
for the online jewelry retail sector. Recent news from Blue Nile, Inc. (Nasdaq: NILE), Reign Sapphire (OTCQB: RGNP) show the sector is experiencing acquisitions and the online sector of
jewelry is a primary focus.
Leading online jeweler Blue Nile (NASDAQ:NILE),
today announced that it has entered into a definitive agreement to be acquired
by an Investor Group comprised of funds managed by Bain Capital Private Equity
and Bow Street LLC (collectively the "Investor Group").
"This is an opportunity to acquire a true
disruptor in a fundamentally attractive and growing segment of the diamond
industry," said Ryan Cotton
Read this release in full at http://www.investorideas.com/news/2016/luxury-brand/11071OnlineJewelryRetail.asp
Blue Nile, Inc. (Nasdaq:NILE), 40.77+10.33 (+33.94%)
As of 12:30 PM EST. Market open.
Blue Nile, Inc. (Nasdaq:NILE), a leading online
retailer of diamonds and fine jewelry, also today reported financial results
for its third quarter ended October 2, 2016.
Net sales decreased to $105.1 million for the third
quarter ended October 2, 2016 compared to $109.9 million for the third quarter
ended October 4, 2015. Operating income for the quarter totaled $1.8 million,
representing an operating margin of 1.7% of net sales, compared to $3.0 million
in operating income and 2.8% operating margin for the third quarter 2015. Net
income totaled $1.3 million, or $0.11 per diluted share versus $2.0 million, or
$0.17 per diluted share for the third quarter 2015.
Non-GAAP adjusted EBITDA for the quarter totaled
$4.2 million compared to $5.3 million for the third quarter 2015. For the
trailing twelve month period ended October 2, 2016, net cash provided by
operating activities totaled $18.6 million compared to $14.7 million for the
trailing twelve month period ended October 4, 2015. For the trailing twelve
month period ended October 2, 2016, non-GAAP free cash flow totaled $13.3
million, as compared to $10.8 million for the trailing twelve month period
ended October 4, 2015.
Highlights
•U.S. engagement net sales for the third quarter
2016 decreased 8.5% to $59.5 million, compared to $65.0 million for the third
quarter 2015.
•U.S. non-engagement net sales for the third
quarter 2016 increased 1.2% to $25.3 million, compared to $25.0 million for the
third quarter 2015.
•International net sales for the third quarter 2016
were $20.3 million, compared to $19.9 million for the third quarter 2015, an
increase of 1.8%. Excluding the impact from changes in foreign exchange rates,
international net sales increased 4.2%.
•Gross profit for the third quarter 2016 totaled
$20.6 million. As a percent of net sales, gross profit was 19.6% compared to
19.3% for the third quarter 2015.
•Selling, general and administrative expenses for
the third quarter 2016 were $18.8 million, compared to $18.2 million in the
third quarter 2015. Selling, general and administrative expenses included stock-based
compensation expense of $1.0 million for the third quarter 2016 and $1.3
million for the third quarter 2015.
•Earnings per diluted share for the third quarter
2016 was $0.11 compared to $0.17 for the third quarter 2015. Earnings per diluted share included
stock-based compensation expense of $0.05 for the third quarter 2016 and $0.07
for the third quarter 2015.
•At the end of the third quarter 2016, cash and
cash equivalents totaled $40.6 million.
Reign Sapphire (OTCQB: $RGNP) signs binding Letter of Intent to acquire
100% of the assets of custom jewelry company Coordinates Collection
BEVERLY HILLS, CA - November 7, 2016
(Investorideas.com Newswire) Reign Sapphire Corporation, (OTCQB: RGNP)
("Reign" or the "Company"), a jewelry company that sells
branded Australian Sapphire Jewelry direct to consumers, today announced that
it has signed a binding letter of intent to acquire 100% of the assets of
custom jewelry company, Coordinates Collection Inc.
Founded in 2012, Coordinates Collection offers
customized jewelry that uses materials such as semi-precious to precious metals
and stones as well as ceramic coatings. The company sells bracelets, rings and
necklaces that display the latitude and longitude of any place that represents
a special memory to the customer with 90% online distribution as well as
wholesale accounts and distribution agreements to Middle East markets. Products
are designed and manufactured in Los Angeles, CA.
"Coordinates Collection is a strong accretive
acquisition for Reign, offering an established infrastructure, human resources,
intellectual property, supply chain, product, up and downstream distribution,
geographic expansion and revenue synergies that will support our collective
Brands throughout the US, Europe, Asia and the Middle East," said Joseph
Segelman, Reign Sapphire Corporation, CEO.
This acquisition will enable us to retain founder
Owen De Vries, who will continue as Head of International Business Development
and Strategic Partnerships across the Reign group of companies, while also
retaining Coordinates Collection Inc.'s team and infrastructure in downtown Los
Angeles, providing expansion opportunities for Reign related to sales and
marketing, distribution, and research and development. Coordinates Collection has
established Widgets, a 3D Web Simulator and a retail display and guided sales
technology kiosk which create a scalable, personalized experience, further
complementing Reign's Concierge, VIP Service and online shopping approach"
Coordinates Collection founder, Owen De Vries
stated, "We are thrilled to integrate with Reign Sapphire Corporation as
we carry forward our brand growth expertise into this new venture. We consider
Reign to be an important aspect of driving the growth of the Mine-Gate to
Consumer concept and envision value creation across our complementary brands
and business models.
The acquisition is expected to close in December
2016.
About Coordinates Collection Inc.
Coordinates Collection Inc., is a jewelry brand platform
that offers an end-to-end solution to launch accessories brands and
marketplaces. Coordinates Collections brands, including Le Bloc and Coordinates
combine quality craftsmanship and timeless designs to provide a personalized
experience to commemorate life's favorite moments.
About Reign Sapphire Corporation (OTCQB: RGNP)
Based in Beverly Hills, California, Reign Sapphire
Corporation is a fully reporting, DTC eligible company, established as a
“miners-gate to retail” model for fine sapphires — rough sapphires to finished
jewelry; a color gemstone brand; and a jewelry brand featuring Australian
sapphires.
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