8/03/12

Blue Nile shines in Q2

Sales are up 13% for the web-only jewelry retailer.

Stefany Moore , Associate Director of Research

Blue Nile Inc. reported yesterday 13% year-over-year sales growth in the second quarter and 32% growth in new customers. The report sent the e-retailer’s stock price up 37% in early trading today.

For the second quarter ending July 1, 2012, web-only jewelry retailer Blue Nile, No. 71 in the Internet Retailer Top 500 Guide, Blue Nile reported:

"We are pleased to report significant revenue growth along with improved profitability, and we are especially excited about the continued acceleration in the sales of engagement products,” says CEO Harvey Kanter. “As we move forward, we are very excited about our plans to ignite growth in the sales of our non-engagement products through the evolution of our assortment.”

For the first six months of the year, Blue Nile also reported:

Blue Nile projects third quarter sales of between $87.0 and $91.0 million and full-year sales of between $384.0 and $417.0 million.

Topics:

Arizona Jean, Blue Nile, Harvey Kanter, international sales, Q2 2012 earnings, Top 500, Top 500 Guide

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