- Expand Customer Base: New customer additions are a top priority in 2011. The Company believes that due to the high number of repeat purchases made by existing customers, an expanded base will create long-term value. To that end, the Company has extended its reach on the internet beyond its www.vitacost.com website and is now selling products through online marketplaces and testing new marketing vehicles such as daily deal sites and offline magazines. In the second quarter of 2011, the Company added 157,200 new customers, bringing total active customers to 1.2 million at June 30, 2011, up 10.2% year-over-year.
- Expand Product Offerings: The Company has increased the number of new proprietary product launches in 2011 from 100 previously announced to a new goal of 150 by year-end. An estimated 135 of these are scheduled to be launched under the Vitacost VMHS label. Year-to-date, the Company has launched approximately 88 new proprietary products, 40 of which were launched in the second quarter of 2011. On the third-party side, the Company added 2,165 new SKUs in the second quarter of 2011, with 1,056 new products in its core VMHS category. The Company also continues to focus on faster growing categories such as personal care, sports nutrition and food.
- The Vitacost Brand: The process of converting the NSI proprietary product line over to the new Vitacost label continued in the second quarter of 2011 with the majority of products on track to be converted over by year-end.
- Elimination of Virtual Inventory: During the second quarter of 2011, the Company completed the process of bringing more than 12,000 former virtual inventory SKUs in-house. Sales of these products have accelerated, increasing over 170% on a monthly basis since the date of transition.
Vitacost.com Announces Results For Second Quarter 2011 And Provides Update On Long-term Sales Growth Initiatives
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.