July 24, 2012, 1:26 PM

Web sales and everything else fall for PetMed in Q1

E-commerce revenue drops 1.1% as total sales decline 6.3%.

Lead Photo

It was a downer of a start for fiscal year 2013 for PetMed Express Inc. as web sales, total revenue and profits all declined.

For the first quarter of fiscal 2013 ended June 30, PetMed, No. 120 in the 2012 Internet Retailer Top 500 Guide reported:

  • The web accounted for 77% of total sales compared with 73% in the first quarter of fiscal 2012. Based on those percentages, online sales decreased 1.1% to $53.1 million from $53.7 million.
  • Total sales declined year over year 6.3% to $69.0 million from $73.6 million.
  • Net income decreased 16.7% to $4.0 million from $4.8 million.
  • Average ticket declined year over year 8.8% to $73 from $80.
  • The number of new customers declined 12.8% to about 197,000 from about 226,000 in the first quarter of fiscal 2012.

PetMed, an online retailer of pet medications and related merchandise, cited customers cutting back on the amount of merchandise and prescriptions they order as one reason for the tough financial quarter. “This reduction can be attributed to customers purchasing smaller quantities, for example a three-month supply instead of six months, additional discounts, and a change in product mix to lower-priced items,” says CEO Menderes Akdag.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Jim Erickson / E-Commerce

Why Western brands should register trademarks in China—now

China doesn’t recognize trademarks registered in other countries. Companies that register first in China get ...

FPO

Asher Elran / E-Commerce

E-commerce and duplicate content: solutions to common problems

Google penalizes retail web sites that display the same content on multiple pages, or that ...

Advertisement