March 29, 2011, 4:07 PM

Dover Saddlery rides the web to 2010 sales growth

Web sales and total sales grow 13.2% and 2.6%, respectively.

Lead Photo

Dover Saddlery Inc., a multichannel retailer of gear and accessories for horse owners and riders, rode the web to a healthy overall sales increase in 2010.

For the fiscal year ended Dec. 31, Dover Saddlery, No. 309 in the Internet Retailer Top 500 Guide, reported:

  • Web sales compare 2009 earnings were $31.6 million, a 13.3% increase from $27.9 million in the prior year.
  • Direct channel sales, including catalog and online, increased 1.6% to $52.1 million from $51.3 million.
  • Retail store channel revenue increased 4.8% to $26.0 million from $24.8 million.
  • Total sales for the fiscal year 2010 increased 2.6% to $78.2 million from $76.2 million in 2009.
  • Comparable-store sales increased 2.9%.
  • Net income for fiscal 2010 increased 126% to $2.04 million from $904,000 in 2009.

Internet Retailer calculates the web accounted for 40.4% of total sales in 2010, compared with 36.6% in 2009.

The improvement in net income was attributed to increased revenue and gross profit, cost savings, and non-recurring investment income, the company says.

Dover Saddlery does not break out quarterly web sales, but for the fourth quarter the company did report:

  • Direct sales increased 3.3% to $15.8 million from $15.3 million.
  • Retail store revenue rose 11.2% to $7.61 million from $6.84 million.
  • Comparable-store sales increased 11%.
  • Total sales increased 6.1% to $23.49 million from $22.14 million in the fourth quarter of 2009.
  • Net income increased about 19% to $1.05 million from net income of $882,000 in the fourth quarter of 2009.

“Our financial performance for the fourth quarter and full year 2010 was extremely strong and is a testament to our cost-controlling strategies and to the strength of our brand,” says Stephen L. Day, president and CEO.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Yevgeny Senkevich / E-Commerce

Why you should treat every SKU as its own line of business

Some items perform well in one marketing channel and not in another. Some bring in ...

FPO

Pat Dermody / E-Commerce

Five tips for unlocking the power of a digital retail circular

Digital circulars are a powerful tool to connect with consumers in real time. Here are ...

Advertisement