August 5, 2010, 6:10 PM

Web sales increase 10% for Blue Nile in Q2

Web sales increased 10% to $76.59 million in the second quarter.

Mark Brohan

Research Director

Lead Photo

Online jeweler Blue Nile Inc. added some luster to its second quarter web sales.

For the second quarter ended July 4, Blue Nile, No. 58 in the Internet Retailer Top 500 Guide, reported:

• Web sales increased 10% to $76.59 million from $69.58 million in the second quarter of 2009.

• International sales grew year over year 28.2% to $9.1 million from $7.1 million.

• Net income declined 1.4% to $2.80 million from $2.84 million.

• The average order was $1,944.

• Total orders were 39,407.

“Consumers overall began to pull back on high-ticket purchases, unlike earlier in the year, based on economic concerns such as high unemployment levels and market volatility,” says CEO Diane Irvine. “Despite this, we are confident that our competitive position remains stronger than ever based upon our differentiated business model and unique consumer proposition.”

For the first two quarters:

• Web sales increased 13.7% to $150.65 million from $132.55 million in the first two quarters of 2009.

• Net income increased 23.6% to $5.91 million to $4.78 million.

Blue Nile expects sales to range from $325 million to $335 million in the third quarter.

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