Blue Nile Guidance Hammered By Weak Economy

Blue Nile’s results were fine, but the outlook stunk. Shares down 21% after hours. CEO Mark Vadon:

Given the current economic environment, however, we believe it is prudent to be extremely cautious in our expectations for the year. There is tremendous uncertainty in the luxury retail sector, which is experiencing a widely reported consumer slowdown.

Barron’s Eric Savitz has the details

 

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