PetMed Express (PETS) Misses Q3 EPS by 10c, Revenues Miss

PetMed Express (NASDAQ: PETS) reported Q3 EPS of $0.38, $0.10 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $60.07 million versus the consensus estimate of $64.28 million.

Menderes Akdag, CEO and President, commented: “The market was much more competitive during the quarter, and as a result we gave additional discounts to our customers to stimulate sales, which had a negative effect on our gross margins. We will continue to be aggressive with pricing and promotions, and increase advertising to address this more competitive online market.”

For earnings history and earnings-related data on PetMed Express (PETS) click here.

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