3/21/11

Coastal Contacts sees a nice increase in Q1 sales

The online retailer reported quarterly sales of $40.6 million.

Bill Briggs , Senior Editor

Coastal Contacts Inc., a web retailer of eyeglasses and contact lenses, reported record Q1 sales.

For the first fiscal quarter of 2011 ended Jan. 31, Coastal Contacts Inc. reported:

“Thanks to our customers it was a healthy first quarter in our seasonally weakest period,” says Roger Hardy, Coastal CEO. “We had a very strong January that included sales of more than C$15.3 million (US$15.64 million) and a one-week period that generated C$1.6 million (US$1.63 million) in eyeglasses orders. Coastal added 73,311 new eyeglasses customers to our growing database of online eyeglasses purchasers. Overall it’s a strong start to the year.”

The company also reported a record of about $2 million in eyeglasses orders last week. Total units for the period were more than 28,000 pairs of eyeglasses.

Glen Kayll, chief financial officer at Coastal Contacts, will be speaking at the Internet Retailer Conference & Exhibition 2011 in San Diego in June in a session titled “How much is my business worth?”.

Topics:

Coastal Contacts, Coastal Contacts earnings, Coastal Contacts Q1 earnings, online contact lenses, online eyeglasses, Q1 2011 earnings, Q1 2011 financials, Roger Hardy, Top 500

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