CEO Sharon Price John says Build-A-Bear’s old e-commerce system is a big reason for disappointing online sales in December.
For fiscal 2011, YTD sales and profits are up 10% and 12%, respectively.
Online print supplies and services retailer Vistaprint NV turned in a solid financial performance for the second quarter.
For the second quarter of fiscal 2011 ended Dec. 31, Vistaprint, No. 36 in the Internet Retailer Top 500 Guide, reported:
- Total sales were $234.1 million, up 20.3% from $194.6 million in the prior year period.
- Net income was $34 million, a 25.9% increase from $27 million in the second quarter of fiscal 2011.
- Vistaprint acquired about 2.2 million new customers.
- Repeat customers generated about 67% of total bookings in Q2 2011, compared with 66% in the same quarter in the prior year.
- Average daily order volume was about 71,000, an increase of 24.6% compared with an average of 57,000 orders per day in the same quarter in the prior year.
- Average order value, including revenue from shipping and processing, was $36.17, down slightly from $36.63 in the same quarter a year ago.
- Web site sessions were 87.7 million, an 8.9% increase from 80.5 million in the prior year.
- Conversion rate was 7.5%, compared with 6.6% in the year-ago quarter.
“Vistaprint delivered very good second quarter results,” says CEO Robert Keane. “Revenue strength was largely driven by our seasonal holiday business, particularly in Europe. Earnings exceeded our expectations due to the higher-than-anticipated revenue and volume-related gross margin improvements.”
For the first two quarters, Vistaprint recorded:
- Total sales were $404.6 million, up 19.1% from $339.7 million in the first two quarters in fiscal 2010.
- Net income was $44.8 million, a 12.3% increase from $39.9 million.
Vistaprint expects revenue to range from $190 million to $196 million for the third quarter of fiscal 2011, and from $785 million to $800 million for the full year.