Drugstore.com builds on supplement, skin care sales
This article was originally published in The Tan Sheet
A 22 percent increase in vitamin and supplement revenue helped the e-retailer increase its first quarter net sales 6.2 percent to $98.3 million - a quarterly record. In an April 29 earnings call, drugstore.com also touted its growing skin care business, up 26 percent, and the 13 percent growth of its vision segment for the three months ending March 29. Overall OTC revenue rose 11 percent, "well ahead of recent e-commerce industry trends," Chairman and CEO Dawn Lepore said. OTC order growth jumped 14 percent in the first quarter, but average basket size contracted, reflecting the economic environment. The Bellevue, Wash.-based firm eked out a profit of $1.3 million for the quarter, due largely to a $1.2 million one-time benefit from the resolution of a sales tax disagreement with New Jersey (1"The Tan Sheet" Feb. 9, 2009, p. 15)
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Move was meant to preempt others’ efforts to secure the next six months of Regeneron’s COVID-19 antibody therapeutic.