Dover Saddlery continues net loss in Q1; plans four-to-six new stores

Littleton, Mass. - Dover Saddlery, Inc. reported a net loss of $543,000 in the first quarter of fiscal 2014, virtually flat with the $538,000 net loss reported in the first quarter of the prior year. Total revenues for the first quarter of 2014 increased 9.4% to $19.7 million, from $18 million achieved in first quarter 2013.

Dover Saddlery plans on opening four to six new stores during fiscal 2014.

"I am pleased to report that the three Dover Saddlery stores opened in the fourth quarter of 2013 performed very well in the first quarter of this year,” said Stephen L. Day, president and CEO of Dover Saddlery. “The increase in selling, general and administrative expense was due primarily to increased direct marketing costs and increased labor and lease expenses associated with the new stores."

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