September 28, 2012, 11:54 AM

Web sales grew modestly for Coastal Contacts in Q3

Sales of contact lenses increased, but eyeglasses declined.

Bill Briggs

Senior Editor

Lead Photo

Total sales increased 1.6% for Coastal Contacts.

Coastal Contacts Inc., an online retailer of contact lenses and eyeglasses, had mixed sales results for the quarter.

For the third quarter ended July 31, Coastal Contacts, No. 110 in the Internet Retailer Top 500, reported:

  • Total sales of $C50.3 million ($51.3 million), a 1.6% increase from $C49.5 million ($50.5 million) in the third quarter of 2011.
  • Eyeglasses sales decreased 3.4% to $C11.5 million ($11.7 million) from $C11.9 million ($12.1 million).
  • Contact lens sales of $C38.8 million ($39.6 million), up by 3.2% from $C37.6 million ($38.3 million).
  • Net loss of $C$1.9 million ($1.9 million), compared with a loss of $C1.5 million ($1.5 million) in the prior year period.
  • The number of active customers grew by about 27%, to approximately 4.1 million from about 3.3 million year over year.

“We continued to make significant progress in Coastal’s key strategic areas throughout the third quarter,” says Roger Hardy, CEO. “Our core contact lens business continued its stable and predictable growth, generating strong operating margins greater than 10% on a consolidated basis, which the company is using to fund growth in the large and attractive glasses category.”

For the first nine months, Coastal Contacts reported:

  • Total sales of $C145.4 million ($148.3 million), up by 8.5% from $C134.0 million ($136.6 million) in the prior nine months.
  • Net loss of $C2.3 million ($2.3 million) compared with a net loss of $C3.8 million ($3.9 million) through the first three quarters of 2011.

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

Advertisement