5/14/14

PetMed Express web sales grow 5.1% for the year

Net income for the pet medication retailer increased 4.7% on the year

Jon Love , Associate Editor, Research

Both web sales and net income increased about 5% in fiscal 2014 for PetMed Express Inc., a pet pharmacy that sells on its web site, 1800PetMeds.com.

For the fiscal year ended March 31, the company reported:

“We were able to increase our gross margins for the quarter and decrease our operational expenses to improve our bottom line results for the fiscal year,” says president and CEO Menderes Akdag. Gross profit increased 24 basis points, mainly due to a cost reduction in certain brands, Akdag says. Operating expenses decreased by 83 basis points, which Akdag attributes to a reduction in advertising costs.

For the fourth quarter:

Topics:

1800petmeds.com, 2014 sales, fiscal 2014, fourth quarter, Menderes Akdag, PetMed, petmed express inc., Q4, web sales

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