First-quarter sales at PetMed Express Inc. were $5.3 million, up 100 percent over last year, the company reported yesterday.
PetMed Express also said it added 39,000 new customers in the quarter.
“The business model is working,” said Mendo Akdag, CEO of PetMed Express, Pompano Beach, FL. “We will continue to move forward with our growth plan and focus on customer acquisition. We expect to show operating losses while we invest heavily in advertising to acquire new customers.”
The company said it had not finalized all results for the quarter and would not comment on its net revenue or loss for the quarter.
Founded in 1996, PetMed Express markets prescription and nonprescription pet medications, health supplements and nutritional supplements through its catalog, telemarketing and e-commerce site, 1888PetMeds.com.