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MarketWatch MarketPulseJan 19, 2021
PetMed Express stock slumps after profit miss
PetMed Express Inc. stock slumped 8.6% in Tuesday premarket trading before rebounding to a 2.1% decline after the pet pharmacy reported fiscal third-quarter profit that missed expectations. Net income totaled $7.6 million, or 38 cents per share, up from $6.8 million, or 34 cents per share, last year. Sales totaled $65.9 million up from $59.9 million last year. The FactSet consensus was for EPS of 39 cents and sales of $64.3 million. Average order size rose to $88 from $85, according to a statement from PetMed Chief Executive Menderes Akdag. And the company declared a quarterly dividend of 28 cents per share, payable on Feb. 12, 2021 to shareholders of record as of the close of business on Feb. 1, 2021. PetMed stock has gained 27.4% over the past year outpacing the S&P 500 index , which is up 13.2% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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