Blue Nile Has Record-Breaking Weekend, CEO Says

Online diamond jewelry retailer Blue Nile has had a strong year and, according to its CEO, a record-breaking Thanksgiving weekend. In an interview with CNBC Monday, Diane Irvine said the 10-year-old company was set to have its “best Cyber Monday ever.”

The weekend saw an increase in transactions valued at more than $20,000, with the purchase of a 5-carat diamond for just under $100,000 recorded as the biggest single transaction, Irvine told CNBC.

“We've exceeded our expectations,” Irvine said. “I think what you're seeing is that consumers are coming online and finding the convenience and the value."

Blue Nile, which has seen its stock rise over 125 percent in the past year, lured in Thanksgiving shoppers with exclusive sales that began as early 12 am on Monday. The site’s main appeal, Irvine said, is the opportunity for shoppers to purchase quality diamond jewelry 20 percent to 40 percent cheaper than in stores.

The site released its list of “Ten Perfect Gifts” on Black Friday, a compilation of jewelry items that ranged broadly in price and style. Recommended gift items include diamond stud earrings for $270, a sterling silver double heart pendant for $40, as well as more expensive items, such as a diamond eternity bracelet featuring brilliant round diamonds in 18k white gold for $2,150.

Blue Nile’s rise in sales can be attributed to a broader rise in online shopping this holiday season. comScore, an internet research company, reported Sunday that Black Friday generated $595 million in online sales, an 11 percent increase compared to 2008.