PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Direct sales, which are almost entirely e-commerce, jumped 202.2%.
Direct sales, which are almost entirely e-commerce, took a big jump up for specialty athletic apparel retailer LuLuLemon Athletica Inc. in the latest quarter.
In its recently filed earnings report with the U.S. Securities and Exchange Commission for the third quarter ended Oct. 31, LuLuLemon reported:
- Direct-to-consumer sales increased 202.2% to $13.9 million from $4.6 million in the prior year.
- Total sales reached $175.8 million, a 55.7% increase from $112.9 million in Q3 2009.
- Comparable-store sales increased 29%.
- Net income was $25.7 million, an increase of 35.3% from Q3 2009 net income of $19.0 million.
“Another big part of our third quarter success was our e-commerce business,” CEO Christine Day told Wall Street analysts on the company’s third quarter earnings call. “We believe that we are just scratching the surface in e-commerce and that a level of 10% of sales is achievable in the short to medium term.”
Internet Retailer calculates direct-to-consumer sales accounted for 7.9% of total revenue during Q3, compared with 4.1% in the prior year.
For its fiscal year to date, LuLuLemon also reported:
- $32.7 million in direct-to-consumer sales, a 284.7% increase from $8.5 million in the same period a year ago.
- $466.3 million in total sales, a 59.5% increase from $292.3 million in the first three quarters of 2009.
- Net income reached $67.2 million, up 125.5% from $29.8 million in the first three quarters of 2009.
Internet Retailer calculates direct-to-consumer sales accounted for 7% of total revenue during the first two quarters compared with 2.9% in the prior year.
LuLuLemon Athletica is No. 398 in Internet Retailer’s Top 500 Guide.