Q2 at Blue Nile shows 2.2% increase in net sales

Blue Nile Inc. has shown a lukewarm growth in net sales during the second quarter ending 29 June 2008, The company saw its net sales grow by 2.2 percent, generating a sales value of $73.7 million. Last year in the same quarter the corresponding sales figures were at $72.1 million and net income was $3.8 million. This year, Q2 saw net income dipping by 15 percent to $3.2 million.

Although, the company did have an extremely high rate of growth for its international sales in the said quarter. The surge was 179 percent, amounting to $8.1 million, while last year in Q2, the international sales valued at $2.9 million.

Making future predictions for Q3, the online retailer expects net sales to increase by upto 5 percent and net income in the range between $0.15 to $0.17 per diluted share. Within a year till date, Blue Nile has increased its number of distribution centtes across the world from four countries to nearly 30 countries.