11/08/13

ThinkGeek parent Geeknet reports a 30% Q3 revenue gain

The web-only retailer also reports a 60% jump in mobile sales.

Thad Rueter , Senior Editor

Third quarter online sales increased nearly 30% for Geeknet Inc., parent company of web-only electronics and gadgets retailer ThinkGeek.com, but the merchant reported a loss.

For the third quarter ended Sept. 30, Geeknet, No. 180 in the Internet Retailer Top 500 guide, reported:

The retailer’s mobile commerce efforts gained steam during the quarter, CEO Kathryn McCarthy told analysts this week during the company’s earnings conference call. “Our mobile and tablet initiatives are in the early stages but doing well, with sales increasing 60% over last year with improved conversion rates,” she said. “In Q4, we plan to implement improvements to the tablet experience, and we plan more changes to our mobile experience next year.”

For the year to date, Geeknet reported:

• Revenue of $63.9 million, up 21.5% from $52.6 million for the same period a year ago.

• A net loss of $5.3 million compared with net income of $7.9 million last year.

Topics:

e-commerce earnings, Geeknet, Q3 earnings, ThinkGeek, Top 500, web-only merchants

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