PetMed grows Q3 web sales 34%

E-commerce sales at PetMed Express Inc. climbed 34.2% in the third quarter of the 2006 fiscal year to $14.8 million from $11 million in the same quarter of fiscal 2005.

In the third quarter, e-commerce sales represented 57% of total sales of $25.9 million, up from 53% of total sales of $20.8 million for the third-quarter of fiscal 2005. Total sales for PetMed, No. 115 in the Internet Retailer Top 400 Guide to Retail Web Sites, increased 25% in the third quarter from the previous year.

During the third quarter, PetMed acquired approximately 105,000 new customers compared to 85,000 new customers for the same quarter in the prior year.

"We are pleased to report that our retail new order sales increased by 26% to $7.3 million for the third fiscal quarter compared to $5.8 million for the same quarter in the prior year,” says CEO Menderes Akdag. “The advertising cost of acquiring a new customer for the third fiscal quarter improved to approximately $30 compared to $31 for the same quarter in the prior year.”