Drugstore.com’s sales grow 26% in Q3
Third quarter revenue at Drugstore.com reached $59.8 million, a 26% increase over the third quarter of 2002 and the highest quarterly revenue in the company’s history. The company reported a GAAP net loss of $4.7 million, a 32% improvement over the year-ago loss of $6.9 million. Average net revenue per order increased by 10% to $76. Drugstore’s active customer base grew to 1.34 million from 1.16 million and its average annual spend grew to $171 from $157.
Drugstore’s over-the-counter sales grew 41% in the quarter the result in part of an aggressive cross-sell and upsell effort. The company also reported that pharmacy sales were the highest in the company’s history. It attributes record sales to Drugstore’s ongoing efforts to be a provider of pharmacy-benefits-management services.
Drugstore says its expects Q4 sales to be $65 million to $70 million.
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