PetMed Express shares slump premarket after Q4 loss widens

Investing.com -- Shares in PetMed Express Inc (NASDAQ: PETS) slumped by more than 12% in premarket U.S. trading on Wednesday after the online pet products retailer reported a wider net loss in the fourth quarter.

In the three months ended on March 31, the Florida-based group, which sells prescription and non-prescription pet medication, posted a net loss of $5.02 million, down from a loss of $216,000 in the corresponding period last year.

"Our results were negatively impacted by a challenging macro environment and industry dynamics, as well as a slow down in call center response times," said Chief Executive Sandra Campos in a statement.

Quarterly revenue rose by 6.6% year-on-year to $66.5 million thanks in part to the company's acquisition of pet supplies seller PetCareRx. Analysts had seen the figure at $65 million, according to LSEG data cited by Reuters.

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