Drugstore.com refocuses on faster-growing segments

Reports 23% increase in net sales

BELLEVUE, Wash. — Drugstore.com posted a 23% increase in adjusted net sales during its fourth quarter ended Jan. 2.

Total sales for the quarter were $123.6 million. Drugstore.com also said that it served 533,000 new customers, excluding its strategic partnerships.

The company also report a narrowed loss of $663,000, or 1 cent per share, an improvement from the prior-year period, when Drugstore.com recorded a net loss of $1.6 million and a net loss per share of 2 cents per share.

Commenting on the results, Drugstore.com's CEO and chairman, Dawn Lepore, said the company has refocused on its faster-growing over-the-counter and vision segments — which rose 24% and 14%, respectively — after selling its pharmacy business assets to BioScrip.

"During 2010, we made important strategic progress, achieving our targets for OTC and total beauty growth, and, even more importantly, laying the groundwork to deliver significant growth to both our top and bottom lines. I am confident that the improvements we have made to our site, the extensive testing we conducted on new product offerings, and the important investments we made this year position us for a strong 2011," Lepore said.

Looking ahead, Drugstore.com disclosed a net sales range of $123 million to $126 million.

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