Blue Nile 10-Q 12 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Apr. 05, 2015	5-May-15
Entity Information [Line Items]
Entity Registrant Name	BLUE NILE INC
Entity Central Index Key	1091171
Document Type	10-Q
Document Period End Date	5-Apr-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	-2
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,867,826

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Apr. 05, 2015	Jan. 04, 2015	Mar. 30, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$39,657	$91,186	$56,713
Trade accounts receivable, net	2,801	2,137	2,856
Other accounts receivable	1,206	1,571	255
Inventories	38,349	41,668	35,181
Deferred income taxes	988	1,123	711
Prepaid income taxes	196	0	627
Prepaids and other current assets	1,345	1,524	1,488
Total current assets	84,542	139,209	97,831
Property and equipment, net	10,319	10,422	9,945
Intangible assets, net	98	103	130
Deferred income taxes	3,237	3,064	5,526
Note receivable	2,000	2,000	2,000
Other investments	2,280	2,280	2,280
Other assets	232	256	241
Total assets	102,708	157,334	117,953
Current liabilities:
Accounts payable	77,763	128,675	81,876
Accrued liabilities	6,262	11,992	5,614
Current portion of long-term financing obligation	32	32	36
Current portion of deferred rent	295	292	281
Total current liabilities	84,352	140,991	87,807
Long-term financing obligation, less current portion	480	489	574
Deferred rent, less current portion	1,913	1,982	2,170
Other long-term liabilities	168	169	114
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 5,000 shares authorized, none issued and outstanding	0	0	0
Common stock, $0.001 par value; 300,000 shares authorized; 21,632, 21,615 and 21,546 shares issued, respectively 11,876, 11,859 and 12,522 shares outstanding, respectively	22	22	22
Additional paid-in capital	228,189	227,146	225,399
Accumulated other comprehensive loss	-374	-236	-32
Retained earnings	104,676	103,489	94,837
Treasury stock, at cost; 9,756, 9,756 and 9,024 shares outstanding, respectively	-316,718	-316,718	-292,938
Total stockholders' equity	15,795	13,703	27,288
Total liabilities and stockholders' equity	$102,708	$157,334	$117,953

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Apr. 05, 2015	Jan. 04, 2015	Mar. 30, 2014
In Thousands, except Per Share data, unless otherwise specified
Stockholders' equity:
Preferred stock, par value	$0.00	$0.00	$0.00
Preferred stock, shares authorized	5,000	5,000	5,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	300,000	300,000	300,000
Common stock, shares issued	21,632	21,615	21,546
Common stock, shares outstanding	11,876	11,859	12,522
Treasury stock, Shares	-9,756	-9,756	-9,024

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 05, 2015	Mar. 30, 2014
Income Statement [Abstract]
Net sales	$106,447	$103,726
Cost of sales	86,474	84,601
Gross profit	19,973	19,125
Selling, general and administrative expenses	18,063	17,517
Operating income	1,910	1,608
Other (expense) income, net:
Interest income, net	36	48
Other expense, net	-83	-2
Total other (expense) income, net	-47	46
Income before income taxes	1,863	1,654
Income tax expense	676	575
Net income	$1,187	$1,079
Basic net income per share	$0.10	$0.08
Diluted net income per share	$0.10	$0.08

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 05, 2015	Mar. 30, 2014
Other Comprehensive Income (Loss), Tax [Abstract]
Net Income	$1,187	$1,079
Other comprehensive income:
Foreign currency translation adjustments	-138	-6
Total comprehensive income	$1,049	$1,073

Condensed_Consolidated_Stateme2

Condensed Consolidated Statement Of Changes In Stockholders' Equity (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]
In Thousands
Balance at Jan. 04, 2015	$13,703	$22	$227,146	$103,489	($236)	($316,718)
Treasury Stock, Shares at Jan. 04, 2015	-9,756					-9,756
Balance, shares at Jan. 04, 2015		21,615
Net income	1,187			1,187
Other comprehensive loss	-138				-138
Tax deficiency from exercise of stock options	-36		-36
Exercise of common stock options	0	0
Exercise of common stock options, shares		0
Issuance of common stock to directors	10	0	10
Issuance of common stock to directors, shares		0
Vesting of restricted stock units, value	0	0
Vesting of restricted stock units, shares		23
Shares withheld related to net share settlement of equity awards, value	-168	0	-168
Shares withheld related to net share settlement of equity awards, shares		-6
Stock-based compensation	1,237		1,237
Repurchase of common stock, value	0					0
Repurchase of common stock, shares						0
Balance at Apr. 05, 2015	$15,795	$22	$228,189	$104,676	($374)	($316,718)
Treasury Stock, Shares at Apr. 05, 2015	-9,756					-9,756
Balance, shares at Apr. 05, 2015		21,632

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 05, 2015	Mar. 30, 2014
Operating activities:
Net income	$1,187	$1,079
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	904	922
Stock-based compensation	1,218	1,101
Deferred income taxes	-38	271
Tax (deficiency) benefit from exercise of stock options	-36	103
Excess tax benefit from exercise of stock options	0	-155
Changes in assets and liabilities:
Receivables	-299	415
Inventories	3,319	-651
Prepaid federal income taxes	-196	-380
Prepaid expenses and other assets	203	-165
Accounts payable	-50,949	-41,155
Accrued liabilities	-5,730	-5,137
Deferred rent and other	-67	-57
Net cash used in operating activities	-50,484	-43,809
Investing activities:
Purchases of property and equipment	-799	-628
Net cash used in investing activities	-799	-628
Financing activities:
Repurchase of common stock	0	-15,836
Proceeds from stock option exercises	0	1,084
Taxes paid for net share settlement of equity awards	-168	-176
Excess tax benefit from exercise of stock options	0	155
Principal payments under long-term financing obligation	-9	-15
Net cash used in financing activities	-177	-14,788
Effect of exchange rate changes on cash and cash equivalents	-69	-4
Net decrease in cash and cash equivalents	-51,529	-59,229
Cash and cash equivalents, beginning of period	91,186	115,942
Cash and cash equivalents, end of period	39,657	56,713
Supplemental disclosure of cash flow information:
Cash paid for income taxes	2,253	582
Non-cash investing and financing activities:
Unsettled repurchases of common stock	$0	$692

Description_Of_Our_Business_An

Description Of Our Business And Summary Of Significant Accounting Policies	3 Months Ended
	Apr. 05, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description Of Our Business And Summary Of Significant Accounting Policies	Description of Our Business and Summary of Significant Accounting Policies
	The Company
	Blue Nile, Inc. (“Blue Nile”, the “Company”, “we” or “our”) is a leading online retailer of high-quality diamonds and fine jewelry. In addition to sales of diamonds and fine jewelry, the Company provides education, guidance and support to enable customers to more effectively learn about and purchase diamonds and fine jewelry. The Company, a Delaware corporation based in Seattle, Washington, was formed in March 1999. The Company serves consumers in over 40 countries and territories all over the world through its website at www.bluenile.com. Information found on the Company’s website is not incorporated by reference into this Quarterly Report on Form 10-Q or any of its other filings with the U.S. Securities and Exchange Commission (the “SEC”).
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Notes to Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended January 4, 2015, filed with the SEC on March 2, 2015 (the “Annual Report”). The same accounting policies are followed for preparing quarterly and annual financial statements. In the opinion of management, all adjustments necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods have been included and are of a normal, recurring nature.
	The financial information as of January 4, 2015 is derived from the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended January 4, 2015, included in Item 8 of the Annual Report.
	Due to a number of factors, including the seasonal nature of the retail industry and other factors described in this Quarterly Report on Form 10-Q, quarterly results are not necessarily indicative of the results for the full fiscal year or any other subsequent interim period.
	Principles of Consolidation
	The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All transactions and balances between the Company and its wholly-owned subsidiaries are eliminated in consolidation.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates include the allowance for sales returns, accounting for income taxes, and assumptions used to determine stock-based compensation expense. Actual results could differ materially from those estimates.
	Foreign Currency
	The functional currency of most of the Company's subsidiaries is the applicable local currency. The assets and liabilities of our subsidiaries have been translated to U.S. dollars using the exchange rates effective on the balance sheet dates, while income and expense accounts are translated at the average rates in effect during the periods presented. The resulting translation adjustments are recorded as a component of other comprehensive income (loss) within stockholders' equity.
	The Company offers customers the ability to transact in 23 currencies. Some of the Company’s subsidiaries engage in transactions denominated in currencies other than the Company’s functional currency. Gains or losses arising from these transactions are recorded in other income, net in the condensed consolidated statements of operations.
	Note Receivable and Other Investments
	The Company holds a minority ownership of a privately-held company in the form of convertible preferred shares, purchased for an aggregate amount of $2.0 million, which we account for under the cost method of accounting.
	The Company holds a $2.0 million note receivable (the “Note”) from the same privately-held company. The interest rate changes over the term of the Note to LIBOR plus a predetermined rate per annum. The Note is recorded at its face amount on the Company's condensed consolidated balance sheet.
	The Company holds a minority ownership in another privately-held company in the form of common stock and warrants, purchased for $280,000, which we account for under the cost method of accounting.
	The Company reviews its investments for impairment when events and circumstances indicate that the decline in fair value of the assets below the carrying value is other-than-temporary. No other-than-temporary impairment charges were recorded for the quarter ended April 5, 2015.
	Credit Agreement
	On February 17, 2015, the Company renewed its Credit Agreement (the "Credit Agreement") with U.S. Bank National Association (the “Lender”). The Credit Agreement provides for a $40.0 million (the "Credit Limit") unsecured, revolving credit facility (the “Revolving Loan”) with an option to increase the Credit Limit to $50.0 million. Under the terms and conditions of the Credit Agreement, the Company may borrow from the Lender for one year with annual renewals at the Lender's discretion. The Company also has the ability to term out the outstanding line balance to a term of up to five years. The aggregate principal amounts outstanding at any one time shall not exceed the Credit Limit.
	As of April 5, 2015, the Company does not have any amounts outstanding under the Credit Agreement and is in compliance with the covenants of the Credit Agreement.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”), “Revenue from Contracts with Customers (Topic 606)” which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on the principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. Early adoption is not permitted. ASU 2014-09 is effective for the Company in the first quarter of its fiscal year 2017. The Company is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15 (“ASU 2014-15”), “Presentation of Financial Statements - Going Concern.” The new standard provides guidance around management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our financial statements and related disclosures.

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	Apr. 05, 2015
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-based Compensation
	As of April 5, 2015, the Company had four equity plans. Additional information regarding these plans is disclosed in the Annual Report.
	Stock-based compensation expense, net of estimated forfeitures, is recognized on a straight-line basis over the vesting period for each stock option or restricted stock unit (“RSU”) grant that is expected to vest at some point in the future. Forfeitures are estimated at the date of grant based on the Company's historical experience and future expectations.
	The fair value of each stock option on the date of grant is estimated using the Black-Scholes-Merton option valuation model. The fair value of each RSU is based on the Fair Market Value (as defined in the Company's 2013 Equity Incentive Plan) of the Company's common stock on the date of the grant.
	There were no stock options granted during the quarter ended April 5, 2015. The assumptions used to calculate the fair value of stock options granted are evaluated and revised, if necessary, to reflect market conditions and the Company’s experience.
	A summary of stock option activity for the quarter ended April 5, 2015 is as follows:
		Options		Weighted		Weighted	Aggregate
		(in thousands)		Average		Average	Intrinsic Value
				Exercise Price		Remaining	(in thousands)
						Contractual
						Term
						(in years)
	Balance, January 5, 2015	1,021		$	39.56
	Granted	—		—
	Exercised	—		—
	Canceled	(2	)	40.46
	Balance, April 5, 2015	1,019		$	39.56	5.74	$	400
	Vested and expected to vest at April 5, 2015	1,003		$	39.67	5.7	$	400
	Exercisable, April 5, 2015	826		$	41.06	5.28	$	395
	During the quarter ended April 5, 2015, the total fair value of stock options vested was $0.8 million.
	A summary of RSU activity for the quarter ended April 5, 2015 is as follows:
		RSUs		Weighted		Weighted	Aggregate
		(in thousands)		Average Grant		Average	Intrinsic Value
				Date Fair		Remaining	(in thousands)
				Value		Contractual
						Term
						(in years)
	Balance, January 5, 2015	109		$	31.74
	Granted	255		29.02
	Vested	(23	)	29.1
	Canceled	(1	)	31.58
	Balance, April 5, 2015	340		$	29.88	2.04	$	9,846
	Vested and expected to vest at April 5, 2015	276		$	36.74	1.87	$	8,015
	The aggregate intrinsic value in the tables above are before applicable income taxes and represent the amount recipients would have received if all stock options had been exercised or RSUs had been released on the last business day of the period indicated, based on the closing stock price of the Company's common stock on such date. The total intrinsic value of RSUs vested was approximately $0.7 million during quarters ended April 5, 2015 and March 30, 2014. During the quarters ended April 5, 2015 and March 30, 2014, the total fair value of RSUs vested was approximately $0.7 million and $0.6 million, respectively.
	As of April 5, 2015, the Company had total unrecognized compensation costs related to unvested stock options and RSUs of $10.4 million, before income taxes. The Company expects to recognize this cost over a weighted average period of 1.7 years for the options and 3.9 years for the RSUs.

Inventories

Inventories	3 Months Ended
	Apr. 05, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories
	Inventories are stated at cost and consist of the following (in thousands):
		April 5, 2015		January 4, 2015		March 30, 2014
	Loose diamonds	$	5,933	$	6,439	$	3,992
	Fine jewelry and other	32,416		35,229		31,189
	Total	$	38,349	$	41,668	$	35,181

Net_Income_Per_Share

Net Income Per Share	3 Months Ended
	Apr. 05, 2015
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share
	Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares and common share equivalents outstanding. Common share equivalents included in the computation represent shares issuable upon assumed exercise of outstanding stock options and conversion of unvested RSUs, except when the effect of their inclusion would be antidilutive.
	The following tables set forth the computation of basic and diluted net income per share (in thousands, except per share data):
		Quarter ended
		April 5,		March 30,
		2015		2014
	Net income	$	1,187	$	1,079
	Weighted average common shares outstanding	11,869		12,800
	Basic net income per share	$	0.1	$	0.08
	Dilutive effect of stock options and RSUs	54		113
	Common stock and common stock equivalents	11,923		12,913
	Diluted net income per share	$	0.1	$	0.08
	The Company excluded 857,992 and 886,586 stock option shares from the computation of diluted net income per share for the quarters ended April 5, 2015 and March 30, 2014, respectively, due to their antidilutive effect.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 05, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes or claims. In addition, the Company is regularly audited by various tax authorities. Although the Company cannot predict with assurance the outcome of any litigation or audit, it does not believe there are currently any such actions that, if resolved unfavorably, would have a material impact on the Company’s financial condition, results of operations or cash flows.

Description_Of_Our_Business_An1

Description Of Our Business And Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Apr. 05, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Notes to Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended January 4, 2015, filed with the SEC on March 2, 2015 (the “Annual Report”). The same accounting policies are followed for preparing quarterly and annual financial statements. In the opinion of management, all adjustments necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods have been included and are of a normal, recurring nature.
	The financial information as of January 4, 2015 is derived from the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended January 4, 2015, included in Item 8 of the Annual Report.
	Due to a number of factors, including the seasonal nature of the retail industry and other factors described in this Quarterly Report on Form 10-Q, quarterly results are not necessarily indicative of the results for the full fiscal year or any other subsequent interim period.
Principles of Consolidation	Principles of Consolidation
	The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All transactions and balances between the Company and its wholly-owned subsidiaries are eliminated in consolidation.
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates include the allowance for sales returns, accounting for income taxes, and assumptions used to determine stock-based compensation expense. Actual results could differ materially from those estimates.
Foreign Currency	Foreign Currency
	The functional currency of most of the Company's subsidiaries is the applicable local currency. The assets and liabilities of our subsidiaries have been translated to U.S. dollars using the exchange rates effective on the balance sheet dates, while income and expense accounts are translated at the average rates in effect during the periods presented. The resulting translation adjustments are recorded as a component of other comprehensive income (loss) within stockholders' equity.
	The Company offers customers the ability to transact in 23 currencies. Some of the Company’s subsidiaries engage in transactions denominated in currencies other than the Company’s functional currency. Gains or losses arising from these transactions are recorded in other income, net in the condensed consolidated statements of operations.
Note Receivable and Other Investments	Note Receivable and Other Investments
	The Company holds a minority ownership of a privately-held company in the form of convertible preferred shares, purchased for an aggregate amount of $2.0 million, which we account for under the cost method of accounting.
	The Company holds a $2.0 million note receivable (the “Note”) from the same privately-held company. The interest rate changes over the term of the Note to LIBOR plus a predetermined rate per annum. The Note is recorded at its face amount on the Company's condensed consolidated balance sheet.
	The Company holds a minority ownership in another privately-held company in the form of common stock and warrants, purchased for $280,000, which we account for under the cost method of accounting.
	The Company reviews its investments for impairment when events and circumstances indicate that the decline in fair value of the assets below the carrying value is other-than-temporary. No other-than-temporary impairment charges were recorded for the quarter ended April 5, 2015.
Credit Agreement	Credit Agreement
	On February 17, 2015, the Company renewed its Credit Agreement (the "Credit Agreement") with U.S. Bank National Association (the “Lender”). The Credit Agreement provides for a $40.0 million (the "Credit Limit") unsecured, revolving credit facility (the “Revolving Loan”) with an option to increase the Credit Limit to $50.0 million. Under the terms and conditions of the Credit Agreement, the Company may borrow from the Lender for one year with annual renewals at the Lender's discretion. The Company also has the ability to term out the outstanding line balance to a term of up to five years. The aggregate principal amounts outstanding at any one time shall not exceed the Credit Limit.
	As of April 5, 2015, the Company does not have any amounts outstanding under the Credit Agreement and is in compliance with the covenants of the Credit Agreement.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”), “Revenue from Contracts with Customers (Topic 606)” which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on the principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. Early adoption is not permitted. ASU 2014-09 is effective for the Company in the first quarter of its fiscal year 2017. The Company is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15 (“ASU 2014-15”), “Presentation of Financial Statements - Going Concern.” The new standard provides guidance around management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on our financial statements and related disclosures.
Stock-based Compensation	Stock-based compensation expense, net of estimated forfeitures, is recognized on a straight-line basis over the vesting period for each stock option or restricted stock unit (“RSU”) grant that is expected to vest at some point in the future. Forfeitures are estimated at the date of grant based on the Company's historical experience and future expectations.
	The fair value of each stock option on the date of grant is estimated using the Black-Scholes-Merton option valuation model. The fair value of each RSU is based on the Fair Market Value (as defined in the Company's 2013 Equity Incentive Plan) of the Company's common stock on the date of the grant.
Inventories	Inventories are stated at cost
Earnings Per Share	Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares and common share equivalents outstanding. Common share equivalents included in the computation represent shares issuable upon assumed exercise of outstanding stock options and conversion of unvested RSUs, except when the effect of their inclusion would be antidilutive.

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	3 Months Ended
	Apr. 05, 2015
Share-based Compensation [Abstract]
Weighted-Average Assumptions For Valuation Of Stock Options Granted [Table Text Block]	The assumptions used to calculate the fair value of stock options granted are evaluated and revised, if necessary, to reflect market conditions and the Company’s experience.
Summary Of Stock Option Activity
		Options		Weighted		Weighted	Aggregate
		(in thousands)		Average		Average	Intrinsic Value
				Exercise Price		Remaining	(in thousands)
						Contractual
						Term
						(in years)
	Balance, January 5, 2015	1,021		$	39.56
	Granted	—		—
	Exercised	—		—
	Canceled	(2	)	40.46
	Balance, April 5, 2015	1,019		$	39.56	5.74	$	400
	Vested and expected to vest at April 5, 2015	1,003		$	39.67	5.7	$	400
	Exercisable, April 5, 2015	826		$	41.06	5.28	$	395
Summary Of Restricted Stock Unit Activity
		RSUs		Weighted		Weighted	Aggregate
		(in thousands)		Average Grant		Average	Intrinsic Value
				Date Fair		Remaining	(in thousands)
				Value		Contractual
						Term
						(in years)
	Balance, January 5, 2015	109		$	31.74
	Granted	255		29.02
	Vested	(23	)	29.1
	Canceled	(1	)	31.58
	Balance, April 5, 2015	340		$	29.88	2.04	$	9,846
	Vested and expected to vest at April 5, 2015	276		$	36.74	1.87	$	8,015

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Apr. 05, 2015
Inventory Disclosure [Abstract]
Inventories Stated At Cost
		April 5, 2015		January 4, 2015		March 30, 2014
	Loose diamonds	$	5,933	$	6,439	$	3,992
	Fine jewelry and other	32,416		35,229		31,189
	Total	$	38,349	$	41,668	$	35,181

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	3 Months Ended
	Apr. 05, 2015
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Net Income Per Share
		Quarter ended
		April 5,		March 30,
		2015		2014
	Net income	$	1,187	$	1,079
	Weighted average common shares outstanding	11,869		12,800
	Basic net income per share	$	0.1	$	0.08
	Dilutive effect of stock options and RSUs	54		113
	Common stock and common stock equivalents	11,923		12,913
	Diluted net income per share	$	0.1	$	0.08

Note_Receivable_and_Other_Inve

Note Receivable and Other Investments (Details) (USD $)	3 Months Ended
	Apr. 05, 2015	Jan. 04, 2015	Mar. 30, 2014
Other Investments [Abstract]
Other-than-temporary Impairment Charges	$0
Investment [Line Items]
Cost Method Investments	2,280,000	2,280,000	2,280,000
Receivables [Abstract]
Note receivable	2,000,000	2,000,000	2,000,000
Note Receivable, Interest Rate Description	LIBOR plus a predetermined rate per annum
Convertible Preferred Stock [Member]
Investment [Line Items]
Cost Method Investments	2,000,000
Equity Securities [Member]
Investment [Line Items]
Cost Method Investments	$280,000

Credit_Agreement_Details

Credit Agreement (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 05, 2015
Credit Agreement [Abstract]
Credit Agreement, Current Borrowing Capacity	$40
Credit Agreement, Amount Outstanding	0
Credit Agreement, Maximum Borrowing Capacity	$50
Credit Agreement, Option to Term Out, Term	5 years

Stockbased_Compensation_Narrat

Stock-based Compensation (Narrative) (Details) (USD $)	3 Months Ended
In Millions, except Share data in Thousands, unless otherwise specified	Apr. 05, 2015	Mar. 30, 2014
Share-based Compensation [Abstract]
Options, Granted	0
Fair value of stock options vested	$0.80
Intrinsic value of RSUs vested	0.7	0.7
Fair value of RSUs vested	0.7	0.6
Unrecognized compensation costs related to unvested stock options and RSUs, before income taxes	$10.40
Stock Options [Member]
Share-based Compensation [Abstract]
Options, Granted	0
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation costs related to unvested stock options and RSUs, Weighted average period of recognition	1 year 8 months 12 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation costs related to unvested stock options and RSUs, Weighted average period of recognition	3 years 10 months 24 days

Stockbased_Compensation_Summar

Stock-based Compensation (Summary Of Stock Option Activity) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 05, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Granted	0
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Balance, January 5, 2015	1,021
Options, Granted	0
Options, Exercised	0
Options, Cancelled	-2
Options, Balance, April 5, 2015	1,019
Options, Vested and expected to vest at April 5, 2015	1,003
Options, Exercisable, April 5, 2015	826
Options, Weighted Average Exercise Price, Balance, January 5, 2015	39.56
Options, Weighted Average Exercise Price, Granted	0
Options, Weighted Average Exercise Price, Exercised	0
Options, Weighted Average Exercise Price, Cancelled	40.46
Options, Weighted Average Exercise Price, Balance, April 5, 2015	39.56
Options, Weighted Average Exercise Price, Vested and expected to vest at April 5, 2015	39.67
Options, Weighted Average Exercise Price, Exercisable, April 5, 2015	41.06
Options, Weighted Average Remaining Contractual Term (in years), Balance, April 5, 2015	5 years 8 months 27 days
Options, Weighted Average Remaining Contractual Term (in years), Vested and expected to vest, April 5, 2015	5 years 8 months 12 days
Options, Weighted Average Remaining Contractual Term (in years), Exercisable, April 5, 2015	5 years 3 months 11 days
Options, Aggregate Intrinsic Value, Balance, April 5, 2015	400
Options, Aggregate Intrinsic Value, Vested and expected to vest at April 5, 2015	400
Options, Aggregate Intrinsic Value, Exercisable, April 5, 2015	395

Stockbased_Compensation_Summar1

Stock-based Compensation (Summary Of RSU Activity) (Details) (Restricted Stock Units (RSUs) [Member], USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 05, 2015
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, Balance, January 5, 2015	109
RSUs, Granted	255
RSUs, Vested	-23
RSUs, Canceled	-1
RSUs, Balance, April 5, 2015	340
RSUs, Vested and expected to vest at April 5, 2015	276
RSUs, Weighted Average Grant Date Fair Value, Balance, January 5, 2015	$31.74
RSUs, Weighted Average Grant Date Fair Value, Granted	$29.02
RSUs, Weighted Average Grant Date Fair Value, Vested	$29.10
RSUs, Weighted Average Grant Date Fair Value, Canceled	$31.58
RSUs, Weighted Average Grant Date Fair Value, Balance, April 5, 2015	$29.88
RSUs. Weighted Average Grant Date Fair Value, Vested And Expected To Vest at April 5, 2015	$36.74
RSUs, Weighted Average Remaining Contractual Term (in years), Balance, April 5, 2015	2 years 0 months 15 days
RSUs, Weighted Average Remaining Contractual Term, Vested and expected to vest at April 5, 2015	1 year 10 months 13 days
RSUs, Aggregate Intrinsic Value, Balance, April 5, 2015	$9,846
RSUs, Aggregate Intrinsic Value, Vested and expected to vest at April 5, 2015	$8,015

Inventories_Inventories_Stated

Inventories (Inventories Stated At Cost) (Details) (USD $)	Apr. 05, 2015	Jan. 04, 2015	Mar. 30, 2014
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]
Loose Diamonds	$5,933	$6,439	$3,992
Fine jewelry and other	32,416	35,229	31,189
Total Inventories	$38,349	$41,668	$35,181

Net_Income_Per_Share_Narrative

Net Income Per Share (Narrative) (Details)	3 Months Ended
	Apr. 05, 2015	Mar. 30, 2014
Earnings Per Share [Abstract]
Stock option shares excluded from computation of diluted net income per share due to their antidilutive effect	857,992	886,586

Net_Income_Per_Share_Computati

Net Income Per Share (Computation Basic And Diluted Net Income Per Share) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 05, 2015	Mar. 30, 2014
Earnings Per Share [Abstract]
Net income	$1,187	$1,079
Weighted average common shares outstanding	11,869	12,800
Basic net income per share	$0.10	$0.08
Dilutive effect of stock options and RSUs	54	113
Common stock and common stock equivalents	11,923	12,913
Diluted net income per share	$0.10	$0.08