Sales lag for PetMed Express in the second quarter
October 25, 2011 02:51 PM
E-commerce and total sales declined for PetMed Express Inc. in the second quarter of fiscal 2012.
For the quarter ended Sept. 30, PetMed Express, No. 107 in the Internet Retailer Top 500 Guide, here are key results for the online retailer:
- Internet Retailer calculates that web sales were $43.1 million for the quarter, down 2.3% from estimated prior-year quarter web sales of $44.1 million. PetMed Express didn’t break out an Internet sales figure in its second quarter earnings report. But Menderes Akdag, CEO and president, says the web accounted for about 74% of total sales in Q2 of fiscal 2012 compared with about 72% in the previous year.
- Total sales were $58.2 million, a 4.9% decline compared with $61.2 million in the prior year quarter.
- Net income was $3.9 million, down by 22% compared with net income of $5.0 million in Q2 of last year.
“Our results for the quarter have been impacted by our more aggressive flea and tick product pricing, which reduced our average order size, and our results were further impacted by the introduction of generic Frontline to the market,” Akdag says.
For the first six months:
- Based on second quarter web sales estimates and PetMed Express’s first quarter earnings report, Internet Retailer calculates web sales for the first six months of fiscal 2012 were $112.3 million, down by about 1.06% from $113.5 million in the same period last year.
- Total sales of $131.8 million, a decrease of 2.8% from $135.6 million in the first six months of fiscal 2011.
- Net income was $8.8 million, down by 27.9% from net income of $12.2 million in the prior year period.
PetMed Express sells prescription and non-prescription pet medications, health products and supplies for dogs, cats and horses online at 1800PetMeds.com and via catalog.