PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
The web accounted for 22% of all revenue.
Diet-conscious shoppers looking to buy food and related dieting content online helped to fatten up e-commerce revenue for Weight Watchers International Inc. in the second quarter.
For the second quarter ended July 2, Weight Watchers, No. 81 in the Internet Retailer Top 500 Guide, reported:
- Online revenue of $105.7 million, up by 74.4% from $60.6 million in the second quarter of 2010.
- Total sales of $486.0 million, up by about 29% from $376.6 million in Q2 2010.
- Net income was $86.9 million, a 54.4%% increase from $56.3 million in the prior year period.
- Online subscribers of 1.78 million, an increase of 67.9% from 1.06 million in Q2 2010.
Internet Retailer calculates the web accounted for 21.8% of total Q2 sales, compared with 16.1% in the same period last year.
"Driven by strong performance in our meetings businesses in North America and the United Kingdom, as well as outstanding performance globally in our WeightWatchers.com business, Weight Watchers delivered excellent top and bottom line results in the second quarter of fiscal 2011," says CEO David Kirchhoff.
For the first two quarters Weight Watchers also recorded:
- Online revenue of $197.7 million, up by 70.6% from $115.9 million in the first two quarters of 2010.
- Total sales of $989.4 million, up by about 29.4% from $764.7 million in the first two quarters of 2010Net income was $160.0 million, a 60% increase from $100.0 million in in the first two quarters of 2010.
Internet Retailer calculates the web accounted for 20% of total sales, compared with 15.2% in the same period last year.