July 21, 2010, 1:21 PM

Web sales were flat in Q1 for PetMed

Web sales grew just 1% for PetMed Express in the first quarter of fiscal 2011 while total sales decreased 3.6%.

Lead Photo

Web sales in the first quarter of fiscal 2011 were flat for PetMed Express Inc.

For the first quarter ended June 30, PetMed, No. 101 in the Internet Retailer Top 500, recorded:

  • An increase in web sales of 1% to $52.3 million from $51.8 million in the first quarter of fiscal 2010.
  • Total sales decreased 3.6% to $74.4 million from $77.2 million in the first quarter of fiscal 2010.
  • Reorder sales grew year over year 6.7% to $57.6 million from $54.0 million.
  • Net income decreased 11.1% to $7.2 million from $8.1 million.

“It has been a challenging quarter due to a reduction in our advertising exposure, which is attributed to the lack of availability of television remnant space at affordable prices, combined with consumers giving greater consideration to price and reducing their usage,” says CEO Menderes Akdag.

Based on Internet Retailer calculations, the web accounted for 70.3% of total sales in Q1 of fiscal 2011, compared with 67.1% in the prior year.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Jock Purtle / E-Commerce

What is your e-commerce business worth?

The founder of a merger and acquisitions consulting firm examines how e-retailers can know the ...

FPO

Adrien Henni / E-Commerce

Alibaba and Chinese e-commerce rivals target Russia

Besides Alibaba, Chinese e-commerce companies like LightInTheBox and DinoDirect are seeking deals to get goods ...

Advertisement