Blue Nile Posts Record Q2 Sales of $76.6 Million

Second quarter net sales by Blue Nile, Inc. increased 9.7 percent to $76.6 million, a record second quarter sales level, the online diamond retailer reported.

Sales outside the U.S. grew 28.2 percent in the quarter to $9.1 million, also a second quarter record. Excluding the impact from changes in foreign exchange rates, international sales increased 21.1 percent.

Total orders during the quarter increased by about 3.5 percent to 39,407 and the average ticket increased approximately 6 percent to $1,944.

The company said that within product categories, sales growth during the quarter was strongest in non-engagement jewelry, including diamond bands, earrings and necklaces.

Blue Nile posted a profit of $2.8 million in the quarter ended July 4.

“While we experienced high growth throughout most of the quarter, we saw a slowdown in consumer demand in the month of June,” said CEO Diane Irvine.

“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,” she added.