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Web sales are up 3.4% for PetMed Express in Q1, but total sales fall
First quarter sales that came from the web increased to 73% of total sales.
Pet medicine and supplies retailer PetMed Express Inc. continued to push sales to 1-800-PetMeds.com in Q1 of fiscal 2012.
For the quarter ended June 30, PetMed, No. 107 in the Internet Retailer Top 500 Guide reported:
- Web sales of $54.1 million, up by 3.4% from $52.3 million in the prior year quarter.
- Total sales of $73.6 million, down by 1.1% from $74.4 million in Q1 of fiscal 2010.
- New order sales of $17.0 million, a 1.7% increase from $16.7 million.
- The company acquired about 226,000 new customers, compared to 220,000 new customers in Q1 fiscal 2010.
- Net income of $4.8 million, compared with net income of $7.2 million in Q1 fiscal 2010.
Approximately 73% of PetMed orders were generated from its e-commerce site during the quarter, compared to 70% for the first quarter last year, says Menderes Akdag, president and CEO. “Although our sales were slightly down due to our more aggressive flea and tick product pricing, we had a slight increase in orders, which was a positive,” he says.