Newsletter

Menu

PetMed Express Q1 profit dips 58%, misses estimates

By Staff Correspondent |

PetMed Express Inc. (NASDAQ: PETS) reported a 58% dip in earnings for the first quarter of 2020 due to higher online competition and aggressive pricing in the market. The results missed analysts’ expectations.

Net income fell by 58% to $5.3 million or $0.26 per share. Net sales decreased by 8.5% to $80 million.

The sales and gross margins were negatively impacted by increased online competition and aggressive pricing in the market that forced the company to reduce its prices.

PetMed Express
Photo Courtesy: PetMed Express / Facebook post

The company’s average order value declined by 4% to $86 in the previous year quarter. During the quarter, PetMed bought back about 613,000 shares of its common stock for $11.5 million, with an average price of $18.73 per share. Cash from operations for the quarter was negatively impacted by an $8.8 million increase in inventory, the result of cost-advantaged inventory buys that the company made during the quarter.

The company’s board of directors declared a quarterly dividend of $0.27 per share on its common stock. The dividend will be payable on August 9, 2019, to shareholders of record at the close of business on August 2, 2019.

PetMed intends to return to normal inventory levels in future quarters. One of the company’s long-term strategic initiatives and primary goals has always been to have direct purchasing relationships with the major manufacturers. PetMed makes further progress on this initiative in the current quarter, which may help improve its gross margins in the future.

Also read: Chewy Q1 earnings

In fiscal 2020, the company will continue to be price competitive and will focus on optimizing its marketing in this more competitive environment and being more efficient with its advertising spending. Also, PetMed will be investing in its e-commerce platform to better serve its customers. This platform will enable us to improve upon its already strong net promoter score of 83%.

Shares of PetMed Express ended Friday’s regular session down 0.31% at $16.23 on the Nasdaq. Following the earnings release, the stock fell over 7% in the premarket session.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Advertisement

More on this Company

stock market

US stocks plummet to the worst since 2008 crisis amid coronavirus outbreak

February 28, 2020

Lyft (LYFT) stock shows signs of recovery amid pricing concerns

December 13, 2019
Earnings Update by AlphaStreet

Five Below (NASDAQ: FIVE): Q3 2019 Earnings Snapshot

December 4, 2019

224 responses to “PetMed Express Q1 profit dips 58%, misses estimates”

  28. cortexi

    […]very handful of web sites that come about to become in depth below, from our point of view are undoubtedly very well worth checking out[…]

  29. Fiverr Earn

    […]just beneath, are numerous entirely not related internet sites to ours, nonetheless, they may be certainly really worth going over[…]

  30. Fiverr Earn

    […]check beneath, are some absolutely unrelated web sites to ours, having said that, they are most trustworthy sources that we use[…]

  35. fiverrearn.com

    […]we prefer to honor lots of other online web pages on the web, even when they aren’t linked to us, by linking to them. Underneath are some webpages worth checking out[…]

  38. livpure buy

    […]just beneath, are a lot of absolutely not connected websites to ours, nevertheless, they’re surely really worth going over[…]

  41. san antonio frenchie

    […]although internet websites we backlink to below are considerably not associated to ours, we feel they may be essentially really worth a go through, so possess a look[…]

  43. clima de hoy

    […]very handful of sites that transpire to be in depth below, from our point of view are undoubtedly very well really worth checking out[…]

  47. fiverrearn.com

    […]we prefer to honor many other web websites on the web, even though they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[…]

  48. fiverrearn.com

    […]although web-sites we backlink to beneath are considerably not related to ours, we really feel they may be actually worth a go as a result of, so possess a look[…]

  51. Specialized Piano Handling

    […]Wonderful story, reckoned we could combine a handful of unrelated data, nonetheless seriously really worth taking a appear, whoa did one particular master about Mid East has got extra problerms as well […]

  67. what is seo

    […]Wonderful story, reckoned we could combine a few unrelated information, nevertheless genuinely worth taking a appear, whoa did one find out about Mid East has got far more problerms as well […]

  74. french bulldog puppies

    […]Wonderful story, reckoned we could combine several unrelated information, nevertheless truly worth taking a search, whoa did one discover about Mid East has got far more problerms also […]

  91. Streamer

    […]Wonderful story, reckoned we could combine a number of unrelated information, nevertheless genuinely really worth taking a search, whoa did one particular master about Mid East has got a lot more problerms at the same time […]

  92. Porn Star in Australia

    […]although internet websites we backlink to beneath are considerably not related to ours, we really feel they may be truly really worth a go via, so possess a look[…]

  94. partners

    […]we like to honor numerous other world wide web web-sites around the net, even though they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  95. Economics

    […]although web-sites we backlink to beneath are considerably not related to ours, we really feel they’re truly really worth a go by way of, so possess a look[…]

  98. FiverrEarn

    […]we like to honor many other web web sites around the web, even though they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

  101. live sex cams

    […]Wonderful story, reckoned we could combine a couple of unrelated information, nonetheless actually really worth taking a look, whoa did a single find out about Mid East has got far more problerms at the same time […]

  102. live sex cams

    […]Wonderful story, reckoned we could combine a few unrelated information, nevertheless truly really worth taking a look, whoa did a single find out about Mid East has got far more problerms also […]

  108. FiverrEarn

    […]very few internet websites that occur to be detailed beneath, from our point of view are undoubtedly effectively worth checking out[…]

  110. FiverrEarn

    […]Wonderful story, reckoned we could combine a few unrelated information, nevertheless truly really worth taking a search, whoa did 1 learn about Mid East has got far more problerms too […]

  113. Paneer

    […]we prefer to honor numerous other internet sites around the net, even if they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  128. resurge scam

    […]that could be the end of this report. Here you’ll discover some web-sites that we feel you’ll appreciate, just click the links over[…]

  133. frt trigger

    […]very handful of web sites that transpire to be detailed below, from our point of view are undoubtedly well really worth checking out[…]

  136. 늑대닷컴

    […]although websites we backlink to below are considerably not connected to ours, we feel they are essentially worth a go by, so possess a look[…]

  142. 918kiss

    […]Wonderful story, reckoned we could combine a few unrelated information, nonetheless really worth taking a look, whoa did a single discover about Mid East has got additional problerms also […]

  145. pg slot

    […]check beneath, are some totally unrelated web-sites to ours, on the other hand, they’re most trustworthy sources that we use[…]

  159. seo wix

    […]Wonderful story, reckoned we could combine some unrelated data, nonetheless really worth taking a look, whoa did 1 understand about Mid East has got additional problerms at the same time […]

  161. houston tx salons

    […]although internet websites we backlink to below are considerably not associated to ours, we feel they may be basically really worth a go by way of, so possess a look[…]

  163. french bulldog puppies near me

    […]Wonderful story, reckoned we could combine a couple of unrelated data, nevertheless actually really worth taking a search, whoa did 1 master about Mid East has got more problerms also […]

  164. acupuncture fort lee

    […]Wonderful story, reckoned we could combine a few unrelated data, nonetheless seriously really worth taking a search, whoa did one particular find out about Mid East has got much more problerms too […]

  174. live sex

    […]Every after inside a when we select blogs that we read. Listed beneath are the newest web-sites that we opt for […]

  181. esports

    […]that will be the finish of this write-up. Right here you’ll come across some web sites that we feel you will value, just click the links over[…]

  182. undetected pubg hacks

    […]we prefer to honor quite a few other online web sites around the web, even if they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  184. aimbot battlefield v

    […]although web-sites we backlink to beneath are considerably not associated to ours, we feel they are actually really worth a go through, so have a look[…]

  189. 늑대닷컴

    […]very couple of internet sites that happen to be comprehensive below, from our point of view are undoubtedly properly really worth checking out[…]

  193. mexican candy store near me

    […]we prefer to honor several other world wide web web sites around the net, even when they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  194. mexican candy store near me

    […]we prefer to honor numerous other world-wide-web web pages around the internet, even if they aren’t linked to us, by linking to them. Beneath are some webpages really worth checking out[…]

  204. bjj jiu jitsu magnolia texas

    […]we prefer to honor a lot of other world wide web sites on the web, even though they aren’t linked to us, by linking to them. Underneath are some webpages worth checking out[…]

  211. How To Get My Dog Papers

    […]Wonderful story, reckoned we could combine some unrelated data, nevertheless seriously really worth taking a appear, whoa did 1 find out about Mid East has got far more problerms too […]

  212. Dog Breed Registries

    […]although web-sites we backlink to beneath are considerably not connected to ours, we really feel they are actually really worth a go through, so have a look[…]

  215. french pitbull

    […]always a massive fan of linking to bloggers that I enjoy but really don’t get a whole lot of link enjoy from[…]

  218. isla mujeres condos

    […]that will be the end of this article. Right here you will locate some sites that we assume you’ll appreciate, just click the links over[…]

  220. French Bulldog Adoption

    […]very handful of web sites that take place to become in depth below, from our point of view are undoubtedly effectively really worth checking out[…]

  222. bulldog shih tzu mix

    […]Wonderful story, reckoned we could combine a number of unrelated information, nevertheless seriously worth taking a search, whoa did one understand about Mid East has got additional problerms as well […]

Top