Drugstore.com Replaces CEO, Reports Cut in Fourth-Quarter Losses

Share this article:
Drugstore.com cut its fourth-quarter losses by 44 percent from the previous year's period, the company reported Friday. It also said that chief operating officer Kal Raman will replace Peter Neupert as president/CEO.


Raman joined Drugstore.com in 1998 as the company's chief technology officer. The Bellevue, WA-based company did not indicate Neupert's future plans.


Outside a $7.3 million restructuring charge and other costs, the online pharmacy had a fourth-quarter net loss of $21.8 million, or 33 cents a share, compared with a loss of $38.9 million, or 86 cents a share, in the year-ago quarter. Its fourth quarter ended March 31.


The Web firm, which sells prescription drugs and health/beauty products, reported that fourth-quarter revenue grew to $32.8 million from $22.7 million in the year-ago period as it added 171,000 new customers.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

Customer Identity in the Digital Age

Customer Identity in the Digital Age

Industry experts explore the value in a person's cyber identity for marketers.

Epsilon Rebrands as End-to-End Marketing Solution

Epsilon Rebrands as End-to-End Marketing Solution

The goal is to flame the perception that technology and creativity live under one roof at the company, says President Andy Frawley.

Mobile Spend Vaults 76 Percent in First Half, IAB Reports

Mobile Spend Vaults 76 Percent in First Half, ...

Overall Internet ad revenues escalate by 15% to $23 billion, also fueled by increased activity in social media and video.