Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
NBTY grew web sales and total sales 18.1% and 6.8%, respectively, in Q3 of fiscal 2010.
Vitamin and health supplement manufacturer and retailer NBTY Inc. pumped up its web sales for the third quarter of fiscal 2010.
For the quarter ended June 30, NBTY, No. 131 in Internet Retailer Top 500 Guide, posted:
- An increase in web sales of 18.1% to $31.92 million from $27.03 million in the third quarter of fiscal 2009.
- Total sales increased 6.8% to $696 million from $652 million in the third quarter of fiscal 2009.
- Total direct sales increased 7.5% year over year to $57 million from $53 million.
- Net income increased 44.1% to $66.18 million from $45.91 million in the third quarter of the prior year.
“We are furthering our initiatives to increase sales, and improve supply chain management as part of our strategic efforts to meet the challenge of the competitive nature of the business,” says CEO Scott Rudolph.
Internet Retailer calculates the web accounted for 4.6% of total sales in the third quarter, compared with 4.1% in the prior year.
For the first nine months of fiscal 2010, NBTY, which didn’t break out e-commerce revenue, reported:
- Total sales increased 13.2% to $2.15 billion from $1.90 billion in January through June of fiscal 2009.
- Total direct sales increased 7.7% year over year to $174.05 million from $161.55 million.
- Net income increased 128.5% to $188.42 million from $82.46 million in the first three quarters of fiscal 2009.
On July 15, NBTY said it will be acquired by The Carlyle Group, a Washington, DC, private equity firm with more than $84.5 billion in assets, in a stock deal valued at $3.8 billion. Under the terms of the deal, Carlyle will pay $55 per share for all of NBTY’s outstanding common shares. A closing date has not been set.