PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
The U.K. sporting goods retailer increases e-commerce sales by nearly 100%.
Total sales grew but not nearly as fast as online revenue for Sports Direct International LLC in the 2011 fiscal year.
For the year ended April 24, Sports Direct, No. 96 in the Top 300 Europe:
- Web sales grew 96.9% to 95.7 million pounds ($154.0 million) from 48.6 million pounds ($78.3 million) in fiscal 2010.
- Total sales increased year over year 7.6% to 1.56 billion pounds ($2.51 billion) from 1.45 billion pounds ($2.33 billion).
- Comparable-store sales, which Sports Direct calls retail like-for-like gross contribution, grew 6.6%
- Gross earnings, which Sports Direct terms underlying profit before tax, increased 32.7% to 135.5 million pounds ($218.1 million) from 102.1 million pounds ($164.3) million.
- Sports Direct did not break any metrics, including online, for the fourth quarter.
Internet Retailer calculates the web accounted for 6.1% of total sales in fiscal 2011 compared with 3.4% in fiscal 2010.
“We remain focused on developing this revenue stream further,” says CEO Dave Forsey. “Order fulfillment and state-of-the-art information technology solutions are developed in-house with full back-up support from our national distribution centre resources in Shirebrook, Derbyshire.”
Sports Direct, a sporting good retailer, operates 387 stores in the United Kingdom and carries brands such as Dunlop, Slazenger, Kangol, Karrimor, Lonsdale, Everlast, Antigua, adidas, Nike, Reebok and Puma.