Retail stores drive Dover Saddlery revenue
Littleton-based retailer of equestrian products, Dover Saddlery Inc. reported a 9 percent jump in revenue, thanks to the performance of its brick-and-mortar stores.
Total revenue for the third quarter of 2014 increased to $24.7 million, compared to $22.6 million in the third quarter of 2013.
The company’s retail store channel was in pace with the company’s overall sales and outperformed its ecommerce division for the quarter.
Traditional retail store sales increased 16.6 percent to $13.3 million for the quarter on the strength of new store openings, but same-store sales also increased by 2.5 percent, the company said. Meanwhile, Dover’s direct sales channel was relatively flat for the period, increasing from 11.2 million for the third quarter of 2013 to 11.3 million this quarter, the company reported.
Dover Saddlery said it will continue to focus on growing its brick-and-mortar count with plans for two stores in the fourth quarter of 2014. The move will bring the company’s storefront count to 26, it said.
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