Dover Saddlery Reports Boost In Revenue, Profits
Equestrian products retailer Dover Saddlery of Littleton reported a 4.8 percent increase in revenues and a 3.8 percent jump in profits for the third quarter.
Revenues increased to $19.5 million compared with the same quarter in 2010. Meanwhile, net income rose to $332,000. Through September, revenues are up 4.3 percent to $57 million while profits are up 8.8 percent to nearly $1.1 million. Dover said same-store sales increased 12.8 percent.
The company's CEO, Stephen L. Day, said a new store in Colorado is exceeding expectations, and another new store - Dover's first in the Midwest - is scheduled to open next week in Libertyville, Ill., a Chicago suburb. Dover Saddlery has 15 stores in all.
Despite the positive numbers, the company said it was not providing any forecast of its future performance because of economic uncertainty.
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