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The web grows, but so do losses for U.S. Auto Parts in 2011
Sales grew 25%, but revenue also dropped in Q4.
It was a good year overall, but a rocky fourth quarter for online auto parts and accessories retailer U.S. Auto Parts Network.
For the year ended Dec. 31, U.S. Auto Parts, No. 59 in the Internet Retailer Top 500, reported:
- Total sales increased 24.7% to $327.1 million from $262.3 million in 2010.
- Excluding sales from J.C. Whitney, which U.S. Auto Parts acquired in 2010, revenue grew year over year about 9.2% to $243.7 million from $223.2 million. The company didn’t break out a similar metric for Q4.
- Net loss was $15.1 million compared with a net loss of $13.9 million in 2010.
“Although 2011 was a challenging year, we believe the foundation laid during this period will set U.S. Auto Parts up to compete in 2012 and beyond,” says CEO Shane Evangelist.
For the fourth quarter:
- Total sales decreased 4.1% to $77.2 million from $80.5 million in Q4 2010.
- Net loss was $7 million compared with $2.9 million.
- Conversion rate was 1.68% compared with 1.73%.
- Total number of orders increased 4.9% to 682,000 from 650,000
- Average ticket was $115, down about 5.7% from $122.
- Number of visitors increased 8.8% to 40.7 million from 37.4 million in the fourth quarter of 2010.
“The decrease in online sales was primarily attributable to a lower average order value and we experienced a lower conversion rate in Q4 2011, which was partially offset by an increase in visitors,” Evangelist says.