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Dec 31, 2020
PetMed Express Q3 2021 Earnings Report
Reported a 10% increase in sales and an 11% increase in net income compared to the same quarter last year.
Key Takeaways
PetMed Express reported a solid third quarter with increased sales and net income. Reorder sales drove growth, while new order sales decreased. The company is focused on its loyalty program and exploring new services.
Sales increased by 10% to $65.9 million compared to $59.9 million in the same period last year.
Net income increased by 11% to $7.6 million, or $0.38 diluted per share, compared to $6.8 million, or $0.34 diluted per share, for the same period last year.
Reorder sales increased by 12% to $60.2 million, driven by the Loyalty and Easy Refill programs and the new website platform.
The company had $106.5 million in cash and cash equivalents and $28.2 million in inventory with no debt as of December 31, 2020.
PetMed Express
PetMed Express
Forward Guidance
The company will explore alternative ways of acquiring customers and adding value-added services, and will continue investing in its e-commerce platform and mobile app.
Positive Outlook
- Exploring alternative ways of acquiring customers.
- Adding value-added services.
- Continue investing in our e-commerce platform
- Continue investing in mobile app
- Website enhancements will be completed by June