Web sales increase 16% for Vitamin Shoppe in the second quarter
August 9, 2012 11:32 AM
Solid e-commerce sales contributed to sales and profit gains for health and beauty chain retailer Vitamin Shoppe Inc. in the second quarter.
For the quarter ended June 30, Vitamin Shoppe, No. 201 in the Internet Retailer Top 500 Guide, reported:
- E-commerce sales, which Vitamin Shoppe calls direct sales, of $24.8 million, up 16.4% from $21.3 million for the same period last year.
- Net sales increased 13.5% to $245.0 million from $215.9 million.
- Retail sales increased 13.1% to $220.2 million from $194.7 million.
- Comparable-store sales increased 8.3%.
- Net income increased year over year by 38.3% to $16.6 million from $12.0 million.
E-commerce sales accounted for 10.1% of total revenue in the second quarter, compared with 9.9% in the prior year quarter.
"Our top-line growth was driven by continued strong retail performance with positive comparable-store sales and solid e-commerce sales," says Tony Truesdale, CEO. He adds that opening new stores will aid Vitamin Shoppe's long-term growth as will introducing new products and continuing to grow e-commerce.
For the first two quarters of 2012, Vitamin Shoppe reported:
- Direct sales of $51.9 million, a 14.1% increase from $45.5 million in the first six months of 2011.
- Net sales of $493.0 million, a 13.9% increase from $432.8 million a year ago.
- Retail sales increased 13.9% to $441.2 million from $387.3 million.
- Net income increased 48.5% to $34.9 million from $23.5 million.
E-commerce sales of 10.5% of total revenue year to date was unchanged from the same period in 2011.