Online sales increase 12% in Q1 for Geeknet

May 15, 2013 12:56 PM

First quarter online sales increased 12% for Geeknet Inc., parent company of online retailer, but its loss widened.

For the first quarter ended March 31, Geeknet, No. 180 in the Internet Retailer Top 500 guide, reported:

  • Sales of $19.6 million, a 12.0% increase from $17.5 million in the first quarter of 2012.
  • A loss of $2.3 million, an increase from the Q1 2012 loss of $2.1 million.
  • Shipment of 328,000 orders, a 6.8% increase from 307,000 orders a year ago.
  • A conversion rate of 1.55%, compared with 1.66% in the same quarter a year ago.
  • Average order value of $60, a 5.3% increase from $57.

Mobile commerce sales also grew in the quarter to approximately $900,000, said Kathryn R. McCarthy, CEO and president, during a conference call with analysts about the retailer’s earnings. That’s almost double from a year ago, she said. mobile shoppers tend to use both tablets and smartphones, she said. “And our customers are very tech-savvy, so they're focused on both their phones and their tablet. So we want to provide that opportunity for them. Anyway they can come into the site, we want to be a great experience,” McCarthy said.




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