Blue Nile Q4 Revenues Grow 24%

Online diamond retailer Blue Nile announced that revenue for its fourth quarter ended December 30, 2007 grew approximately 24 percent over the prior year. “2007 was a great year for Blue Nile, and the holiday quarter was no exception,” CEO Mark Vadon said.

Blue Nile did not disclose final figures however, it ended the 2006 fourth quarter with net sales of $90.7 million.

Vadon referred in a release to the less-than-spectacular results recently announced by diamond jewelry retailers, saying that while they have not released fourth quarter sales results in advance of the earnings announcement date, “We felt it was important to share this information given the industry data that has been released recently. Over the past week, a number of large jewelry retailers have reported negative same store sales results for the holiday season.”

Blue Nile will report fourth quarter and fiscal year 2007 financial results on Tuesday, February 12.

Vadon said he anticipates reporting strong profitability for the fourth quarter. “We believe we are well positioned to continue to gain market share despite the difficulties that are being experienced within the jewelry industry,” added Vadon.