Blue Nile's online sales incraese for 2007, Q4

The response of consumers purchasing jewellery at Blue Nile has increased during the last quarter that ended December 2007. Blue Nile reported a sales growth of 23.3%, while its net sales increased to $111.9 million, over $90.7 million in the same quarter a year ago. Net income increased by 31.1% to $7.5 million.

The retailer�s annual sales worth $319.3 million also showed an increase, of 26.9% over 2006 and net income increased by 33.6% to $17.5 million. After a robust 2007, Blue Nile is encouraged to think of 2008 with a 10% increase in net sales. It anticipated that income will be relatively flat due to the current economic environment.

Blue Nile has authorised the repurchase of up to $100 million of additional company common stock during the year, which would take its total repurchase value to $150 million. On the corporate front, Blue Nile has undergone a management change with Mark Vadon elected as the new executive chairman and Diane Irvine as the chief executive officer, effective February 7, 2008.