PetMed Express web sales gallop ahead 23% in second quarter
PetMed Express Inc. reported Internet sales of $33.7 million for the second quarter of fiscal 2008, a 23% increase from $27.4 million year-over-year. Its e-commerce site, 1800PetMeds.com, accounted for about 65% of all sales for the quarter, compared with 62% for the same period last year.
For the six months ended Sept. 30, web sales increased by 24% to $71.6 million, compared with $57.6 million for the same six months in the prior year.
PetMed Express, No. 113 in the Internet Retailer Top 500 Guide, sells prescription and non-prescription pet medications and other health products for dogs, cats, and horses via web and catalog.
Net sales for the second quarter, ended Sept. 30, 2007, were $51.5 million, up 18% compared with to $43.8 million for the same period in 2006. Net Q2 income for FY 2008 was $4.5 million, a 36% increase compared with $3.3 million in the prior year quarter.
Reorder sales increased by 25% from $28.1 million in fiscal Q2 2007 to $35 million. The company reports acquiring about 222,000 new customers in the second quarter compared with 212,000 for the same quarter last year.
“We will continue to focus on capturing additional market share, and on improving reorders and our customer service levels in fiscal 2008,” says Menderes Akdag, president and CEO at PetMed Express.
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