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On-Line Jewelers Profits Soar!
Online retailer Amazon.com said its December 2004 jewelry sales
increased more than 120 percent from December 2003.
In a press release dated February 8, Amazon.com said triple-digit
growth of jewelry sales continues into 2005, as customers buy rings,
necklaces, earrings, bracelets, watches, and body jewelry from its
website. Amazon.com offers more than 1,000 ruby jewelry items ranging
in price from $100 to more than $1,500, including a wide selection of
heart-shaped rubies.
Internet jewelry retailer Blue Nile Inc., also came in with tremendous increases. They reported fourth quarter 2004 sales of $64.5 million, an increase of 30.3 percent from fourth quarter of 2003. Net income was $4.6 million, down 78 percent from the fourth quarter of 2003 at which time Blue Nile had applied a $15.7 million tax benefit to offset future earnings. Income before taxes
during the fourth quarter increased 38.3 percent to $7.1 million.
Net sales for the year ending January 2, 2005, were $169.2 million, up
31.3 percent from 2003, and income before taxes was $15.6 million.
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