Web sales and total sales grow 13.2% and 2.6%, respectively.
Dover Saddlery Inc., a multichannel retailer of gear and accessories for horse owners and riders, rode the web to a healthy overall sales increase in 2010.
For the fiscal year ended Dec. 31, Dover Saddlery, No. 309 in the Internet Retailer Top 500 Guide, reported:
Internet Retailer calculates the web accounted for 40.4% of total sales in 2010, compared with 36.6% in 2009.
The improvement in net income was attributed to increased revenue and gross profit, cost savings, and non-recurring investment income, the company says.
Dover Saddlery does not break out quarterly web sales, but for the fourth quarter the company did report:
“Our financial performance for the fourth quarter and full year 2010 was extremely strong and is a testament to our cost-controlling strategies and to the strength of our brand,” says Stephen L. Day, president and CEO.