PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Web sales increased 15.7% for The Buckle while same-store sales fell.
The web was the only channel that delivered positive sales for apparel and accessories retailer The Buckle Inc. in the second quarter.
For the quarter ended July 31, The Buckle reported:
- Web sales increased 15.8% to $11.7 million from $10.1 million in the second quarter of 2009.
- Net sales decreased year over year 2.2% to $188.6 million from net sales of $192.9 million.
- Comparable-store sales decreased 7.3%.
- Net income was $20.7 million, down by 17.2% compared with $25 million in the prior year.
Based on calculations by Internet Retailer, the web accounted for 6.2% of total sales in the second quarter of 2010, compared with 5.2% in the prior year.
For the first half of the year The Buckle, No. 217 in the Internet Retailer Top 500 Guide, also reported:
- Online sales were $26.2 million, a 20.2% increase from $21.8 million in the prior year quarter.
- Total sales grew 2.8% to $403.4 million from $392.6 million.
- Comparable-store sales decreased 2%.
- Net income was $50.9 million, down by about 1.9% year over year from $51.9 million.
Based on calculations by Internet Retailer, the web accounted for 6.5% in the first two quarters compared with 5.6% in the prior year.