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Description:
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Blue Nile, Inc. (Blue Nile) is an online retailer of diamonds and jewelry. The Company's Website, www.bluenile.com, showcases thousands of diamonds and jewelry, including rings, wedding bands, earrings, necklaces, pendants, bracelets and watches. Blue Nile specializes in the customization of diamond jewelry with its Build Your Own feature that offers customers the ability to customize diamond rings, pendants and earrings. Blue Nile is the Company's brand. Diamonds represent the significant component in the Blue Nile's product offerings. Blue Nile generally does not hold in its inventory the diamonds it offers for sale until it receives a customer order. Upon receipt of a customer order for a specific diamond, it purchases that diamond from one of its suppliers, who generally ship it to the Company in one business day. Unlike diamonds, the Company typically takes rings, wedding bands, earrings, necklaces, pendants, bracelets and watches into inventory before its customers order them. For the thirteen weeks ended 2 April 2006, Blue Nile, Inc.'s revenues increased 15% to $50.7M. Net income decreased 9% to $2.4M. Revenues reflect an increase in sales of engagement rings, customized diamond jewelry and loose diamonds. Net income was offset by higher cost of sales and increased selling, general and administrative expenses. Blue Nile, Inc., is engaged in the business of high quality diamonds and fine jewelry.
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