May 12, 2009
Tack Co. Earnings Slip As Fewer Customers Pony Up
By Matthew L. Brown
Soft demand brought Littleton-based Dover Saddlery Inc.'s first quarter net loss to $590,000 from a loss of $359,000 a year earlier.
The equestrian supplies retailer also reported a 7.1 percent drop in revenue from $17.7 million in the first quarter of 2008 to $16.4 million.
Same-store sales sank by 10.6 percent as overall retail sales increased by 12.5 percent as a result of the opening of several new stores during 2008 and early 2009.
The company said it has "put in place a series of tactical measures to ensure continued solid performance" and said it would not provide earnings guidance for the rest of 2009 until there was "greater long-term visibility on economic conditions and consumer behavior."
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