U.S. Auto Parts grows web sales 13.5% in Q1
May 12, 2015 01:38 PM
E-commerce and total sales increased in the first quarter of 2015 for auto parts and accessories retailer U.S. Auto Parts Network Inc., which primarily sells online. This marks the fourth consecutive quarter in which the retailer has posted double-digit revenue growth.
For the first quarter ended April 4, U.S. Auto Parts, No. 136 in the Internet Retailer 2015 Top 500 Guide, reported:
- Online sales of $68.9 million, up 13.5% from $60.7 million in the first quarter of 2014. Online sales accounted for 90.3% of total sales in the quarter compared with 89.4% a year earlier, the retailer says.
- Offline sales, including the retailer’s wholesale business and private-label merchandise, increased 2.8% to $7.4 million from $7.2 million last year. Offline sales represent about 9.7% of total sales, the company says.
- Total sales increased 12.2% to $76.3 million in Q1 2015 from $68.0 million.
- Net income was $190,000 in the first quarter of 2015, compared with $680,000.
- Conversion rate was 1.7% compared with 1.6% last year.
- Total e-commerce orders were 516,000, up 5.7% from 488,000 in Q1 2014.
- Average order value was $110 compared with $107 last year.
- Unique visitors increased 1% to 30.6 million from 30.3 million.
“As a growing e-commerce business we are pleased to post our fourth consecutive quarter of double-digit revenue growth,” U.S. Auto Parts CEO Shane Evangelist says.
He also gave more detail on U.S. Auto Parts’ private-label products. “As it relates to gross profit per unit, we continue our robust process of sourcing private-label products,” Evangelist told Wall Street analysts on the quarterly earnings call, according to a transcript of the call by Seeking Alpha. “We ended the quarter with around 63% of our revenues generated by private-label SKUs. We added over 5,000 SKUs last year and expect to do more this year.”
Private-label products accounted for 60% of sales in Q4 last year, and 58% of sales in 2014 as a whole, he said.