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XO Group finally rights its e-commerce ship in the third quarter
After declines in the first two quarters, web merchandise sales grew 7% in Q3.
It took most of the year to achieve, but XO Group Inc. is once again generating positive e-commerce results.
For the third quarter ended Sept. 30, XO Group, which earlier this year changed its name from The Knot Inc., No. 352 in the Internet Retailer Top 500 Guide reported:
- Web merchandise sales of $7.6 million, a 7.0% increase from $7.1 million in Q3 2010.
- Total revenue increased 13.6% to $31 million from $27.3 million in the same quarter last year.
- Net income grew year over year 18.2% to about $1.3 million from about $1.1 million.
Internet Retailer calculates that web merchandise sales comprised 24.5% of total revenue in Q3, compared with 26.0% in the third quarter of 2010. “With ongoing strength in our publishing business and a recovery in our e-commerce business, the third quarter marked another period of execution across our businesses,” says CEO David Liu.
For the first three quarters XO reported:
- Web merchandise sales of $21.4 million, a 4.5% decrease from $22.4 million in the first three quarters of 2010.
- Total revenue increased 9.3% to $93.3 million from $85.4 million in the first three quarters of 2010.
- Net income grew year over year 66.7% to about $3.5 million from $2.1 million.
Internet Retailer calculates that web merchandise sales comprised 22.9% of total revenue in Q3, compared with 26.2% in the third quarter of 2010.