Blue Nile First Quarter Sales Down 11%

Internet retailer Blue Nile announced net sales decreased 11.4% in the first quarter of 2009, to $62.4 million, compared to $70.5 million in the first quarter of 2008.

Operating income for the quarter totaled $2.9 million compared to $3.0 million in the first quarter last year. Net income totaled $1.9 million.

International sales totaled $5.6 million in the quarter, a decrease of 3.4% from $5.8 million in the first quarter of 2008.

Marc Stolzman, chief financial officer, said: “Sales trends improved in the first quarter compared to the fourth quarter of 2008, and we anticipate further improvement as we progress through 2009 with an expectation that the fourth quarter will post a year-over-year sales increase.”