Dover Saddlery Rides High On Increased Revenue
Littleton-based equestrian retailer Dover Saddlery's revenues increase by $1 million during the first quarter, rising from $17.2 million to $18.2 million.
Much of the increase was due to a one-time benefit of $727,000 from a re-assessment of the company's gift card program.
Profits were $221,000, up from $125,000 during the first quarter of 2011.
CEO Stephen Day said the first quarter is generally slow for the business, and said direct sales were negatively impacted by warm winter weather, which dampened sales of cold-weather items.
Retail store sales made up the difference, rising 31 percent.
The company also launched a new website, a process Day described as "challenging," but one the company said is now resulting in higher web traffic.
Image credit: Ohmmy3d
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