January 14, 2008 / 2:25 PM / 12 years ago

UPDATE 1-Blue Nile quarterly revenue up 24 pct; shares rise

(Recasts with CEO quote, background, share price)

NEW YORK, Jan 14 (Reuters) - Online jewelry retailer Blue Nile Inc NILE.O said on Monday that revenue surged 24 percent in its fourth quarter, which includes the key holiday shopping period, sending its shares up 4 percent.

“We are extremely pleased with our fourth-quarter sales results, particularly given concerns about the macroeconomic environment,” Chief Executive Mark Vadon said in a statement.

Blue Nile’s positive sales data comes days after its peers, including luxury jeweler Tiffany & Co (TIF.N) and others like Zale Corp ZLC.N and Finlay Enterprises Inc FNLY.O, reported a drop in U.S. same-store sales, blaming tight consumer spending and a shaky retail environment.

On Feb. 12, Blue Nile will report earnings for the period, which ended on Dec. 30.

Its shares rose to $59.40 in premarket trading from Friday’s Nasdaq close of $57.11. (Reporting by Aarthi Sivaraman; Editing by Lisa Von Ahn)

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