Thursday, 4th August 2005 (2433 views)

Blue Nile, the online jewellery retailer has enjoyed increased sales in the second quarter, with a rise of more than 25 per cent.

Second quarter net sales for the three months to July 3 rose to $43.8 million, a rise of 25.1 per cent from the same period a year earlier.

Blue Nile's net income for the quarter hit $2.8 million, up from $1.9 million.

The company's CEO, Mark Vadon, said in a statement: "Our financial performance reflects outstanding execution across our business, the appeal of our brand among consumers and the strength of our competitive position."

He added: "We are focused on expanding our market share and on further extending our leadership position in online diamond and jewellery retailing."

Blue Nile enjoyed gross profits for the quarter of $10 million, a 26 per cent rise from its $7.9 million profits from the same period last year.

 

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