- PetMed Categorical Inc (NASDAQ: PETS) reported a Q2 EPS of $0.31, lacking the consensus of $0.34 and decrease than $0.42 posted a yr in the past.
- Web gross sales have been $67.4 million, down 10.7% Y/Y and much beneath the consensus of $72.45 million.
- Since some pet homeowners bought drugs straight from their vets throughout their go to, PetMed believes that this negatively impacted gross sales, particularly reorder gross sales throughout the quarter.
- “The lower in gross sales was on account of reductions in each new order and reorder gross sales. Our gross sales have been negatively impacted by a way more aggressive market and credit score promoting area with considerably larger prices than the identical quarter final yr,” stated Bruce S. Rosenbloomm, CFO, within the Q2 earnings convention name.
- Reorder gross sales decreased by 8.5% to $62 million. New order gross sales fell to $5.4 million.
- PetMed acquired roughly
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