Brilliant Earth Group ( NASDAQ: BRLT ) stock shined brightly on Friday after reporting resilient sales and margins.
Shares of the San Francisco-based jewelry seller rose nearly 30% after the company notched narrow beats on top and bottom lines while growing margins despite inflationary pressures. The company explained that its pricing moves over the past year allowed margins to expand by 460 basis points.
“We delivered a strong second quarter, reflecting the increasing awareness and resonance of the Brilliant Earth brand, the disciplined execution of our omnichannel growth strategy and the advantages of our asset-light, agile and data-driven business model. CEO Beth Gerstein said. "We remain excited about our business outlook, as we begin the second half of the year, which is reflected in our reaffirmation of our fiscal year guidance.”
The company’s fiscal year outlook reiterated the expectation of $450M to $470M in sales alongside adjusted EBITDA of $30M to $40M
Shares of the ethically-sourced jewelry-seller have risen over 75% in the past month. Still, the stock remains well below its 52-week peak of $20.39.
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Brilliant Earth Group shares surge over 25% on rising sales, robust margins