February 10, 2006
E-Tailers Report Strong Holiday
Two major Web-based jewelry retailers reported strong holiday sales for 2005.
Amazon.com announced that fourth-quarter 2005 jewelry sales jumped more than 100% over the same period in 2004. The company attributes the growth to enhancements to the Jewelry & Watches store throughout the year, including the addition of loose diamonds, more than 1,000 new watch styles and two new tools the Amazon diamond search and a program that allows consumers to create their own rings.
Amazon.com said 18k gold, diamond solitaire rings, diamond studs and pearl strands were popular purchases. Defying conventional wisdom that big-ticket jewelry won't sell on the web, the company reported its top sale during the holiday season was a pair of diamond earrings for $94,000.
Blue Nile reported net sales increased 20% for the year ended Jan. 1, 2006, to $203.2 million, over the previous year. Net income increased 31.7% to $13.2 million.
For the fourth quarter ended Jan. 1, Blue Nile's net sales increased 13.5% to $73.2 million.