April 29, 2011, 12:56 PM

Web sales grow 16% for Drugstore.com in Q1

However, the retailer had another loss on the bottom line.

Mark Brohan

Research Director

Lead Photo

It was another quarter of growth for the top line and a loss on the bottom line for Drugstore.com, which is being acquired by Walgreen Co.

In what may be its last quarterly earnings statement as a public company and for the first quarter ended April 3, Drugstore.com, No. 46 in the Internet Retailer Top 500 Guide, reported:

  • Sales increased 15.8% to $128.4 million from $110.9 million in the first quarter of 2010.
  • Net loss was $3.2 million compared with a net loss of $2.6 million in the first quarter of 2010. The net loss included $2.2 million in acquisition-related expenses, the retailer says.
  • Sales from over-the-counter merchandise increased year over year 15.6% to $107.5 million from $93.0 million.
  • Vision-related revenue increased 17.3% to $21.0 million from $17.9 million in the first quarter of 2010.
  • Total orders, excluding orders from other businesses, grew to 1.8 million.
  • The average over-the-counter order was $65.

“With our continued investment in our marketing initiatives, we acquired approximately 540,000 new customers this quarter, up 13% over the first quarter of 2010,” says CEO Dawn Lepore. “During the quarter, we made strategic progress on a number of fronts including implementing our new site navigation, launching three branded sites for Luxottica and signing an agreement with GSI Commerce for our West Coast distribution center capability.” 

In March, Walgreen (No. 68) announced plans to acquire Drugstore.com for about $429 million. Walgreen expects to complete its takeover of Drugstore.com by the end of June.

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

Advertisement