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

Dollar Growth Rate of Video to Peak This Year

Dollar Growth Rate of Video to Peak This ...

It will increase by 56% to $6 billion, then taper off due to growth in inexpensive mobile placements, says a new study.

Alliance Data Spends $2.3 Billion to Buy Conversant

Alliance Data Spends $2.3 Billion to Buy Conversant

CEO Ed Heffernan says the acquisition "bulks up" the digital marketing power of Alliance and its Epsilon and Loyalty One units.

Time Has Come for Cross-Channel Video Campaigns

Time Has Come for Cross-Channel Video Campaigns

People and Entertainment Weekly team up to deliver one of the first cross-channel video campaigns powered by HTML5.