Littleton, Mass. – Net income at Dover Saddlery Inc. for the second quarter decreased 26% to $261,000, compared to $355,000 achieved in second quarter 2013. Higher selling, and general and administrative expenses helped cut the net income total.
Dover Saddlery is planning to open four-to-six retail stores in 2014. Until there is greater long-term visibility on sustainable economic conditions and consumer behavior, the company is not providing guidance on other business prospects.
However, total revenues for the second quarter of 2014 increased 6.2% to $24.4 million, compared to revenues of $22.9 million achieved in second quarter 2013. Same-store sales growth of 5.8% and new store openings drove the increase in revenue.