The Top 500 apparel chain plans to expand its reserve online, pick up in store program, as well as its presence in China.
Vitacost.com pumps up Q3 sales by 10%
The e-retailer is rolling out more private-label products.
Topics: 2013 financials, 2013 Internet Retailer Top 500, business finance, diet products, Food, Internet Retailer, Jeffrey Horowitz, online health products retailer, private-label products, Q3, Q3 sales, third quarter, Top 500, Vitacost.com, Vitacost.com Inc., web sales
On the heels of a decent third quarter earnings report, online health products retailer Vitacost.com Inc. is diversifying its product lines.
Vitacost.com, No. 87 in Internet Retailer’s 2013 Top 500, is adding more products to its lineup of private-label products. The web-only retailer is adding new food, beauty and diet products, including skin care creams and oils, meal-replacement diet shakes, powdered organic peanut butter and nutrition bars.
“To make healthy living affordable for everyone, we will continue to develop lower-priced alternatives to the products our customers desire the most,” says CEO Jeffrey Horowitz.
The push to develop and launch more private-label merchandise coincides with a decent financial performance for Vitacost.com for the third quarter. For the quarter ended Sept. 30, Vitacost.com reported:
- Sales of about $90.5 million, up 10.1% from $82.2 million in the third quarter of 2012.
- Net loss was about $3.6 million compared with around $5.1 million in the prior year.
- The number of new customers added reached 312,000, an increase of 7%.
- Average ticket was $75.44, up by 6.9% from $70.58 in the third quarter of 2012.
“During the third quarter, we tested new promotional strategies in order to better balance customer growth,” Horowitz says.
For the first nine months:
- Sales increased 16.2% to about $285.5 million from about $245.7 million.
- Net loss was around $10.9 million compared with $15.4 million in the prior year