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PetMed Express says advertising ineffectiveness played a role in earnings and sales miss

·1 min read
PetMed Express says advertising ineffectiveness played a role in earnings and sales miss
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PetMed Express Inc. shares slumped 11% in Monday premarket trading after the pet pharmacy company announced first-quarter earnings and sales that missed Street expectations. Net income totaled $4.4 million, or 22 cents per share, down from $7.8 million, or 39 cents per share, last year. Sales totaled $79.3 million, down from $96.2 million. The FactSet consensus was for EPS of 37 cents and sales of $87.7 million. During the quarter, the company incurred a $717,000 charge tied to its chief executi