PetMed Express’s web sales slip in Q2
October 28, 2015 12:27 PM
Web sales dropped slightly in the second quarter of fiscal 2015 for PetMed Express Inc. but accounted for a slightly higher percentage of total sales compared with the same period last year. PetMed’s total sales for the quarter declined about 1.5%.
PetMed Express sells prescription and non-prescription pet medications and other products for dogs and cats on its website, 1800PetMeds.com and over the phone at 1-800-PetMeds.
A decrease in new sales spurred the drop in Q2 sales, chairman president and CEO Menderes Akdag told analysts during the company’s Q2 earnings call, according to a Seeking Alpha transcript. Reorder sales were flat for the quarter, and average order value increased to $80 from $75 in the year-ago period.
For the second quarter ended Sept. 30, PetMed Express, No. 177 in the Internet Retailer 2015 Top 500 Guide, reported:
- Web sales accounted for 81% of total sales, an increase from 80% in the year-ago quarter. Based on those percentages, web sales totaled $45.95 million in Q2 2015, a 0.24% decline from $46.06 million in Q2 2014.
- Total sales decreased 1.5% to $56.73 million from $57.58 million.
- Net income increased 18.5% to $4.5 million from $3.8 million.
For the first six months of fiscal 2015 PetMed Express reported:
- Total sales decreased 1.3% to $128.4 million from $130.1 million in the first six months of fiscal 2014.
- Net income increased 17.0% to $10.3 million from $8.8 million.