PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
E-commerce grew 19% as store sales increased 10%.
Web sales are off on the right foot for Foot Locker Inc. so far this year.
For the first quarter ended April 28, Foot Locker, No. 54 in the 2012 Internet Retailer Top 500, reported:
- Web sales increased about 18.7% to $127.0 million from $107.0 million.
- Total sales grew year over year 9% to $1.58 billion from $1.45 billion.
- Comparable-store sales increased 9.7%.
- Net income increased 36.2% to $128.0 million from $94.0 million.
The web accounted for about 8% of total sales compared with 7.4% in the first quarter of 2011.
“The first quarter continued our recent track record of meaningful sales and profit increases over the comparable prior-year periods,” says CEO Kevin Hicks.