PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Apparel retailer The Buckle posted 22% growth in online sales in Q2.
Apparel retailer The Buckle Inc. saw the best sales growth from e-commerce in the second quarter.
For the quarter ended July 30, The Buckle, No. 218 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased year over year about 22% to $14.3 million from $11.7 million.
- Total revenue grew about 12.6% to $212.4 million from $188.6 million in the second quarter of 2010.
- Comparable-store sales increased about 9%.
- Net income increased 14.0% to $23.6 million from $20.7 million.
Internet Retailer calculates the web accounted for 6.7% of total sales in the quarter compared with 6.2% in the second quarter of 2010.
For the first half of the year, Buckle also reported:
- Web sales increased about 20% to $31.4 million from $26.2 million in the first half of 2010.
- Total revenue grew 12.2% to $452.5 million from $403.4 million.
- Comparable-store sales increased about 8%.
- Net income increased 12% to $57.0 million from $50.9 million.
Internet Retailer calculates the web accounted for 6.9% of total sales in the first half of fiscal 2011 compared with 6.5% in the same period last year.
The company also announced that chief financial officer and vice president of finance Karen B. Rhoads will be staying in her role. In March, Buckle reported that she would be leaving Feb. 1, 2012.