Blue Nile Inc. and Tiffany & Co. are the two hottest jewelry retailers in the U.S., according to an annual survey of retailers.
Stores magazine, the official magazine of the National Retail Federation, ranked Blue Nile, the Seattle-based online jewelry and diamond retailer, 20th on its "Hot 100 Retailers" list. The venerable luxury jeweler Tiffany came in at 92. No other jewelry retailer made the list, which appeared in the magazine's August issue. The list highlights retail companies with a minimum of $100 million in annual revenues that reported the greatest increase in year-over-year revenues in 2006.
Blue Nile reported revenues of nearly $251.6 million, a 23.8 percent increase over the previous year's earnings. Meanwhile, Tiffany posted revenues of more than $2.6 billion in 2006, an increase of nearly 10.6 percent over 2005 revenues. While revenues soared for both companies, earnings for the year declined by less than 1 percent (Blue Nile 0.7 percent, Tiffany 0.3 percent), according to the rankings.
Among general merchandise retailers that sell fine jewelry, Seattle-based Internet retailer Amazon.com came in at number 19 with a 26.1 percent increase in revenues in 2006 to $10.7 billion. Federated Department Stores (which has been renamed Macy's Inc.) came in at 28th with a 20.4 percent increase 70 $26.9 billion.
Among big box retailers, Target was ranked 70th on the list with a 13 percent increase in revenues to $59.5 billion. Wal-Mart, the world's largest retailer and the world's largest jewelry retailer, came in at number 78 with an 11.7 percent increase in revenues to $348.6 billion.
Nordstrom finished 89th on the list with a nearly 10.6 percent increase in revenues to $8.6 billion.
Source: jckonline
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