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Mar 31, 2021
PetMed Express Q4 2021 Earnings Report
PetMed Express reported a decrease in sales and net income for Q4 2021, while full-year results showed growth in both areas.
Key Takeaways
PetMed Express reported a decrease in sales for the fourth quarter, with a slight decrease in net income. However, the company experienced overall growth in sales and net income for the full fiscal year. The decrease in sales for the quarter was attributed to colder weather and demand being pulled forward due to the pandemic.
Q4 sales decreased by 3.5% to $71.7 million compared to the same period last year.
Q4 net income decreased by 2.7% to $6.8 million, or $0.34 diluted per share.
Average order value increased to approximately $93, compared to $90 for the same quarter the prior year.
The company acquired approximately 88,000 new customers in Q4, compared to 107,000 in the same period last year.