Online auto parts supplier U.S. Auto Parts Network reported sales of $39.7 million for the first quarter of 2009, down 0.75% from $40 million in the prior year quarter.
Online auto parts supplier U.S. Auto Parts Network Inc. reported sales of $39.7 million for the first quarter of 2009 ended April 4, down 0.75% from $40 million in the prior year quarter. CEO Shane Evangelist says the recession will keep driving consumers toward repairing-rather than replacing-their vehicles.
“Macro-economic conditions are still turbulent, but our online sales per day for Q1 2009 were approximately equal to Q1 2008, a modest recovery from recent quarters,” Evangelist says. “We believe that the online sales recovery supports our contention that long-term consumer behavior trends are lining up in favor of U.S. Auto Parts. The recession has brought a dose of reality to consumer spending, and people are keeping their vehicles longer and looking for ways to reduce maintenance cost. These trends fit perfectly with our strategic initiatives to lower the cost consumers pay for auto parts and educate them on how to maintain their vehicle themselves.”
In the fourth quarter of fiscal 2008 U.S. Auto Parts’ sales declined by 9.4% to $33.8 million from $37.3 million in the fourth quarter of 2007. Third quarter 2008 sales were $36.6 million, a decrease of 3.2% from $37.8 million in the prior year period. U.S. Auto Parts is No. 102 in the Internet Retailer Top 500 Guide.
Key first-quarter 2009 operating metrics include a 7.5% increase in revenue capture-sales after returns, credit card declines and fulfillment-as a percentage of sales, rising from 76.4% in Q1 2008 to 82.1%; a 4.8% decline in average order, from $126 in the first quarter of 2008 to $120 in Q1 2009; a 5.9% decline in orders, from 320,000 last year to 301,000 in the recent quarter; a decline in unique visitors of 2.3% in Q1 2009, to 25.8 million from 26.4 million.
Net loss for Q1 2009 was $700,000 compared with a net loss of $900,000 in the prior year quarter.