Brilliant Earth Group, Inc. - BRLT STOCK NEWS

Brilliant Earth Group (Nasdaq: BRLT) has opened its 27th showroom in Williamsburg, New York, marking the company's second location in NYC. The 3,000-square-foot store features six appointment stations for private consultations, aiming to enhance customer experience. With a focus on ethically sourced fine jewelry, Brilliant Earth caters to Gen Z and Millennials, offering customizable options like name plate necklaces and Zodiac pendants. The showroom emphasizes a digital-first approach, enabling customers to engage with the brand both online and in person. This expansion supports Brilliant Earth's mission to create a transparent and sustainable jewelry industry.

Brilliant Earth Group (Nasdaq: BRLT) has released its 2022 Mission Report, highlighting its achievements in sustainability, transparency, compassion, and inclusion. The company reported 98% of gold and 97% of silver used in its jewelry came from recycled sources, with an increase in recycled gold usage by 5% from 2021. As part of its ESG goals, Brilliant Earth aims to audit all moderate to high-risk suppliers by 2023 and achieve 100% recycled or Fairmined certified metals by 2025. The company has also tripled its charitable donations and increased Fairmined gold purchases by 27%. Brilliant Earth remains committed to transforming the jewelry industry ethically.

Brilliant Earth (BRLT) reported a 15.7% increase in net sales for FY 2022, totaling $439.9 million, with net income of $19 million and Adjusted EBITDA of $39 million. Q4 sales decreased 1.9% to $119.6 million, though total orders rose 13.7%. The gross margin improved to 54.7% in Q4, up 360 basis points year-over-year. The company opened 10 new showrooms in 2022, growing to 25 in total. For FY 2023, Brilliant Earth expects net sales between $460 million and $490 million, with Adjusted EBITDA projected at $17 million to $32 million.

Brilliant Earth Group, Inc. (Nasdaq: BRLT) announced it will release its fourth quarter and fiscal year 2022 earnings results after market close on March 15, 2023. The Company will hold a conference call and webcast at 5:00 PM ET to discuss these results and provide a business outlook. Interested investors can access the webcast on Brilliant Earth's investor relations website. Established in 2005, Brilliant Earth has become a leader in ethically sourced fine jewelry, operating 26 showrooms and serving customers in over 50 countries. This announcement underscores the Company's commitment to transparency and sustainability in the jewelry industry.

Brilliant Earth has opened its 26th showroom in Charlotte, North Carolina, marking its first retail presence in the Carolinas. This expansion aligns with the upcoming Valentine's Day gifting season, featuring new heart-shaped lab diamond jewelry and personalized options. The showroom, located in the vibrant South End district, offers a bright, welcoming environment with one-on-one consultations supported by online capabilities. Brilliant Earth continues to expand its reach, joining other locations across major U.S. cities and enhancing its omnichannel shopping experience.

Brilliant Earth has opened its 25th showroom in Santa Monica, California, enhancing its presence in the state. This new location follows the recent Palo Alto showroom, marking it as the fifth in California. The showroom offers a range of ethically sourced jewelry and personalized services, aligning with the company’s digital-first approach. Positioned in the Santa Monica Place shopping center, it serves customers looking for engagement rings and unique gifts during the holiday season. The expansion supports Brilliant Earth’s mission of promoting a more sustainable jewelry industry.

Brilliant Earth Group, Inc. (Nasdaq: BRLT) reported a 17.0% increase in net sales to $111.4 million for Q3 2022, driven by strong omnichannel performance. Gross margin improved to 54.7%, up 430 basis points year-over-year. The company generated a net income of $5.7 million and adjusted EBITDA of $10.0 million, although adjusted net income and EBITDA declined compared to Q3 2021. For the nine months ended September 30, 2022, net sales grew 24.0% to $320.3 million, but net income decreased to $12.8 million. The company updated its revenue outlook for FY 2022, expecting total sales between $436 million and $446 million.

Brilliant Earth Group, a leader in ethically sourced fine jewelry, has expanded its retail presence in the U.S. with the opening of its 23rd showroom in Palo Alto, California, and its 24th in Baltimore, Maryland. This growth aims to enhance customer experience through personalized service in an attractive brick-and-mortar format, alongside its e-commerce platform. With these new locations, Brilliant Earth aims to cater to holiday shoppers seeking thoughtful gifts and engagement options, further solidifying its commitment to ethical practices in the jewelry industry.

Brilliant Earth Group, Inc. (Nasdaq: BRLT) will announce its third quarter 2022 earnings results on November 10, 2022, after market close. The company will host an investor conference call at 5:00 PM ET to discuss the financial results and future outlook. The call and webcast can be accessed via their investor relations website. Brilliant Earth is a leader in ethically sourced fine jewelry, operating 23 showrooms and serving customers in over 50 countries as part of its commitment to transparency and sustainability in the jewelry industry.