Dover Saddlery Gallops Through Q4
Equestrian retailer Dover Saddlery Inc. grew its sales and profits by 11 percent and 40 percent, respectively, in its final quarter of fiscal 2012.
The Littleton-based company grew revenue to $26.4 million in the fourth quarter, up from $23.8 million during the same period in 2011. Meanwhile, profits increased from $641,000 to $895,000.
For the full year ended Dec. 31, revenue grew 6.5 percent to $86 million while profits fell 8 percent to $1.6 million.
Retail store revenue increased 19.9 percent to $36.5 million for the year, which CEO Stephen Day partially credited to the opening of three new stores in Minnesota and North Carolina. Meanwhile, same-store sales were up 6 percent. The company ended the year with $299,000 in cash. Dover has 18 stores in 12 states.
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Dover Saddlery Continues Expansion
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