The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Web sales grew by 4.1% year over year.
Bedding maker, marketer and retailer Select Comfort Corp. achieved a moderate increase in web sales for the third quarter.
For the quarter ended Oct. 2, Select Comfort, No. 303 in the Internet Retailer Top 500 Guide:
- The web accounted for 9.6% of total sales compared with 10% in the prior year. Based on those percentages, Internet Retailer calculates web sales grew 4.1% to about $15.4 million from $14.8 million in the third quarter of 2009.
- Total sales increased year over year 8.5% to $160.1 million from $147.5 million.
- Same-store sales increased 16%.
- Net income increased to $10.5 million from $6.5 million in the third quarter of 2009.
“We continue to demonstrate strong sales growth and operating margin expansion, despite an uncertain environment,” says CEO Bill McLaughlin.
For the first nine months, Select Comfort reported:
- The web accounted for 10.9% of total sales compared with 11.3% in the prior year. Based on those percentages, Internet Retailer calculates web sales grew 8.3% to about $49.8 million from $46 million in the first three quarters of 2009.
- Total sales increased year over year 12.1% to $457 million from $407.7 million.
- Net income was $24.5 million compared with net income of $243,000 in the first nine months in 2009.