Retailers shift their ad spending from TV, radio and print ads to digital ads.
For the second quarter, net income increased to $2.8 million from $1.9 million in the prior year. Blue Nile also posted net sales of $43.8 million, compared to net sales of $35 million in the second quarter of 2004, an increase of 25%.
Second quarter net income and sales took a big jump at Blue Nile Inc. In Q2, Blue Nile, an online jeweler, posted net sales of $43.8 million, compared to net sales of $35 million in the second quarter of 2004, an increase of 25%.
Net income in Q2 was up 49.9% to $2.8 million from $1.9 million in the prior year. "We delivered strong sales and earnings growth for the second quarter," said CEO Mark Vadon. "Our financial performance reflects outstanding execution across our business, the appeal of our brand among consumers and the strength of our competitive position."
Overall Blue Nile, No. 48 in the Internet Retailer Top 400 Guide to Retail Web Sites, says the company is on track for a solid year. For the full year, Blue Nile says net sales are expected to be between $205 million and $212 million. In 2004, Blue Niles posted sales of $169.2 million.