NEW YORK (TheStreet) -- Blue Nile (NILE) fell 15.07% to $35.45, down $6.29 from its previous close of $41.74, on Thursday after the online jewelry retailer reported fourth-quarter earnings that came in below analysts' expectations.
The company reported earnings of 38 cents a share, four cents less than the Capital IQ consensus estimate of 42 cents a share. Revenue also increased 7.3% year over year to $146 million, which was also less than Capital's consensus of $153 million.
Blue Nile also lowered its guidance for both the first quarter and full fiscal year of 2014 to less than Capital's consensus. The company expects EPS of 5 cents to 9 cents compared to the consensus estimate of 11 cents for the first quarter and revenue of $102 million to $108 million compared to the consensus estimate of $110.04 million. For the full year, the company expects EPS of 85 cents to 92 cents compared to the consensus estimate of $1.06 and revenue of $485 million to $520 million compared to the consensus estimate of $513.83 million.
"Looking back at 2013, we are pleased with the continued momentum in the business and confident in our strategy to build long term growth," said Blue Nile CEO Harvey Kanter in the company's statement. "We launched important initiatives that drove sales and improved the consumer experience. This year, we will continue to enhance the experience across all platforms, expand exclusive product offers, elevate levels of customer service, and increase our global reach. In 2012, we set a three year goal to re-energize the business. Our performance over the past 20 months gives us confidence that exciting times are yet ahead for Blue Nile as we continue to reframe the business."