Blue Nile has not enjoyed good sales during last year’s holiday season. The retailer released data of its fourth quarter of 2008, with a 53 percent fall in its profits. Sales fell by 23 percent to $85.8 million, while in the same period the previous year sales were from $111.9 million. %% Net income for the retailer slipped to $3.5 million, while during the same quarter in the previous year it amounted to $7.5 million.