PayPal posts another quarter with double-digit revenue growth. PayPal may soon be a payment option for shoppers on Chinese international marketplace AliExpress.
E-commerce accounted for 7.1% of total sales in the first quarter.
Specialty apparel retailer The Buckle Inc. posted higher total and comparable-store sales in the first quarter. But the web was the channel that grew the fastest.
For the first quarter ended April 30, The Buckle, No. 218 in the Internet Retailer Top 500 reported:
- Web sales increased year over year 18.8% to $17.1 million from $14.4 million.
- Total revenue grew 11.8% to $240.1 million from $214.8 million in the first quarter of 2010.
- Comparable-store sales increased 8.1%.
- Net income increased 11.3% to $33.5 million from $30.1 million.
Internet Retailer calculates the web accounted for 7.1% of total sales in the first quarter compared with 6.7% in the first quarter of 2010.
The Buckle operates 422 stores in 41 states compared with 412 stores at the end of the first quarter of fiscal 2010, the retailer says.