In its second-largest acquisition, Amazon buys the company for $970 million.
In 2005, online sales at PetMed Express grew 30% to $72.4 million from 2004’s $55.8 million. Total sales increased 24% to $131.7 million.
Online pet pharmacy PetMed Express Inc. turned in a strong sales performance in 2005. Last year online sales grew 30% to $72.4 million compared with 2004’s $55.8 million. Total sales for the company increased 24% to $131.7 million over $106.3 million in 2004.
The company, No. 116 in the Internet Retailer Top 400 Guide to Retail Web Sites, sells prescription and nonprescription pet medications and other health products for dogs, cats, fish and other animals direct to consumers. This year the multi-channel retailer will add personalization and educational content to its web site, 1800PetMeds.com.
“The online/direct mail channel presently is approximately 7% of the overall pet medications industry,” says CFO Bruce Rosenbloom. “During the next five years we expect the online/direct mail channel to double in size. We plan on capitalizing on this growth opportunity by leveraging our brand name and continuing to offer our customers the convenience of buying pet medications online.”