The retailer says web sales grew about 30% during the period, while total sales were lower than projected.
Online jeweler Blue Nile increased its 2005 web sales 20% to $203 million from $169.2 million in 2004. At the same time, Blue Nile reported net income of $13.2 million, a 32% gain over net income of $9.9 million in 2004.
Online jeweler Blue Nile Inc. increased its 2005 web sales 20% to $203 million from $169.2 million in 2004. At the same time, Blue Nile, No. 48 in the Internet Retailer Top 400 Guide to Retail Web Sites, reported net income of $13.2 million, a rise of 32% over net income of $9.9 million in 2004.
“2005 was also a great year for Blue Nile -- strategically, operationally and financially. We strengthened our competitive position as the leader in online diamond and jewelry retailing and enhanced our exclusive supply chain relationships,” says Blue Nile CEO Mark Vadon. “We believe our obsessive focus on providing exceptional customer service and delivering strong profitability to our shareholders will continue to fuel our future growth.”
Blue Nile also turned in a solid fourth quarter, increasing sales 13.5% to $73.2 million from $64.5 million in Q4 2004. “We generated sales growth of 13.5% during the fourth quarter, and we demonstrated our ability to deliver strong profitability despite a challenging sales environment in jewelry retail,” says Vandon.
In 2006, Blue Nile expects to post sales between $220 million and $245 million.