In the next 17 months, it expects 10% of its B2B customers will be transacting on the web, an executive says.
The online retailer reports a 7.7% increase in direct sales.
Direct sales, which are almost all online, increased 7.7% for Vitamin Shoppe Inc. in the third quarter. For the third quarter ended Sept. 25, the online retailer of vitamins and nutrition goods, No. 177 in the Internet Retailer Top 500 Guide, reported:
• Direct sales of $20.27 million, up 7.7% from $18.82 million for the same period last year.
• Net sales increased 11.3% to $187.36 million from $168.40 million.
• Retail sales increased 11.7% to $167.09 million from $149.58 million.
• Comparable-store sales increased 7.1%.
• Net income increased year over year by 255.4% to $7.25 million from $2.04 million.
"The third quarter marked another strong period of growth, with all areas of the business contributing to the overall success,” says Rick Markee, Vitamin Shoppe’s CEO. “We had a very successful semi-annual private-label promotion which helped drive traffic into our stores.”
Internet Retailer calculates direct sales accounted for 10.8% of total revenue in the second quarter compared with 11.2% in the prior year.
For the nine months ended Sept. 25, the retailer reported:
• Direct sales increased 6.9% to $63.19 million from $59.12 million in the same period last year.
• Net sales increased 11.5% to $571.21 million from $512.10 million.
• Retail sales increased 12.2% to $508.02 million from $452.98 million.
• Net income increased year over year by 115.6% to $23.28 million from $10.80 million.
Internet Retailer calculates direct sales accounted for nearly 11.1% of total revenue in the second quarter compared with 11.5% in the prior year.