Blue Nile 4Q sales up 24 percent
January 14, 2008
Seattle—Diamond Internet giant
Blue Nile Inc. reported a 24 percent increase in sales for the fourth quarter ended Dec. 30.
The report on the company's fourth-quarter earnings comes in advance of the company's earnings announcement, but Blue Nile Chief Executive Officer Mark Vadon said in a statement that the felt it was important to release the results in light of the negative same-store holiday sales being reported by a number of major jewelry retailers.
He said 2007, including the holiday season, was a "great year" for Blue Nile.
"We are extremely pleased with our fourth-quarter sales results, particularly given concerns about the macro-economic environment," he said. "In addition, we anticipate reporting strong profitability for the fourth quarter in our upcoming earnings announcement. We believe we are well positioned to continue to gain market share despite the difficulties that are being experienced within the jewelry industry."
Blue Nile is scheduled to report fourth quarter and fiscal year 2007 financial results on Feb. 12 via a conference call at 5 p.m. EST.
The call will be broadcast live via Web cast and can be accessed at
Investor.bluenile.com.
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