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
