PetMed Express, Inc. - PETS STOCK NEWS

PetMed Express, Inc. (NASDAQ: PETS) reported a decline in first-quarter net sales to $70.2 million, down 11.5% from $79.3 million in the previous year. Net income dropped to $2.8 million, or $0.14 per diluted share, from $4.4 million, or $0.22 per diluted share in Q1 2021. Adjusted EBITDA fell by 10%, totaling $6.3 million. CEO Matt Hulett indicated that colder temperatures impacted flea and tick sales but noted improvements as the quarter progressed. The company announced a quarterly dividend of $0.30 per share, payable on August 19, 2022, enhancing shareholder returns.

Christine Chambers has been appointed as Chief Financial Officer of PetMed Express, effective August 3, 2022. With extensive experience in digital transformation, she previously served as CFO at RealNetworks and held positions at Rosetta Stone and the Bill & Melinda Gates Foundation. The company’s President, Matt Hulett, expressed enthusiasm for Chambers' leadership during this growth phase. She succeeds Bruce Rosenbloom, who will assist in the transition. The appointment aims to enhance PetMeds' operational excellence in finance and support its digital initiatives.

PetMed Express (NASDAQ: PETS) will announce its financial results for the quarter ended June 30, 2022, on July 25, 2022, at 4:00 P.M. Eastern Time. Following this, a conference call will be held at 4:30 P.M. for public review of these results. Callers can join by dialing (877) 407-0789 or (201) 689-8562. A replay of the call will be available from 7:30 P.M. on July 25, 2022, until August 8, 2022. This PR includes forward-looking statements subject to risks that may affect the company's future performance.

PetMed Express, Inc. (NASDAQ: PETS) reported a 7.9% decline in net sales for Q4 FY2022, totaling $66.0 million, down from $71.7 million in the previous year. Net income also dropped 11% to $6.1 million, or $0.30 per diluted share. For the full fiscal year, sales decreased 11.6% to $273.4 million, with net income declining to $21.1 million from $30.6 million. CEO Matt Hulett noted a potential turnaround in sales for flea and tick products, influenced by weather conditions. The company declared a quarterly dividend of $0.30 per share, payable on May 27, 2022.

PetMed Express has appointed Carolyn Carden as the new VP of Product Management, effective May 9, 2022. Carden, a former Petco executive with over 20 years of experience in eCommerce and product management, will focus on expanding the company’s product portfolio, particularly in the growing telemedicine sector. CEO Matt Hulett emphasized Carden's strategic leadership capabilities as an asset to PetMeds' growth-oriented vision, especially in enhancing its service to over 2 million pet parents and collaborating with tens of thousands of veterinarians.

PetMed Express, Inc. (NASDAQ: PETS) will report its financial results for the fiscal year and fourth quarter ending March 31, 2022, on May 9, 2022, at 4:00 P.M. Eastern Time. A conference call will follow at 4:30 P.M. to discuss the results. Interested parties can access the call by dialing (800) 891-8256 or through a webcast link provided in the release. The replay will be available after the event until May 23, 2022. PetMed Express specializes in delivering pet medications and health products to consumers across the USA.

Vetster, a prominent pet care marketplace, has successfully raised $30M USD in an oversubscribed Series B round, totaling $40M USD since its launch in November 2020. The investment, led by Kensington Capital Partners, includes PetMed Express, Inc. (PETS) as a strategic partner to enhance telehealth services for pet owners in the U.S. The partnership aims to streamline pet care experiences, enabling pet parents to quickly access veterinary services and prescriptions.

PetMed Express announces a new partnership with Vetster Inc., enhancing pet healthcare through 24/7 telehealth access for over 2 million pet parents. This groundbreaking alliance positions PetMeds as the exclusive e-commerce provider for Vetster, which will offer virtual veterinary services. As part of the agreement, PetMeds also invests in Vetster, allowing for potential future equity growth based on performance milestones. This collaboration aims to improve accessibility for pet healthcare while maintaining fast medication delivery for customers.

PetMed Express, Inc. (NASDAQ: PETS) announces the appointment of Diana Garvis Purcel as an independent director on its Board, effective April 4, 2022. Purcel will also lead the Audit Committee following the retirement of Ronald Korn in July 2022. Board Chairman, Dr. Gian Fulgoni, highlighted Purcel's expertise as beneficial for the company's growth strategies. With over 20 years of CFO experience, including leadership roles in publicly traded companies, Purcel aims to contribute significantly to PetMed's transformation and future success.