Boston, MA 06/05/2014 (wallstreetpr) – RetailMeNot Inc (NASDAQ:SALE), a leading chain of retail stores operating in the US, announced its earnings data on May 05, 2014. Incidentally, the stocks had rallied upwards by 5.4% after the results!
First Quarter Review
SALE garnered revenues that soared up 51% year-over-year and touched $61.3 million in Q1-2014. A spokesperson commented that the company had exceptional sales across the overseas markets, pettifogging on other attributes as well that put together this sumptuous rise in revenues!
Cotter Cunningham, the CEO of RetailMeNot Inc (NASDAQ:SALE) reverted that the strong Q1 portrayed that consumers have started liking the company’s online promotion concepts and opting to acquire amazing cost savings through online purchases. SALE noticed a sustained growth of 47% in the organic revenues; net global revenues ended on a profoundly high note, as the company’s global revenues showed a promising growth of 55% in 2014 in a year-over-year basis.
SALE Notched Up Humongous Revenues From Its Mobile App
The company also notched up significant sales through its mobile application. There has been a YoY hike in sales by 127%, in Q1-2014. The company reported that its application has been downloaded 16.3 million times in Q1-2014, leading to pouring-in of sales, from the mobile-app segment in the last quarter. RetailMeNot Inc (NASDAQ:SALE) notched up net sales of 125.3 million in Q1-2014 through the mobile app, much higher than the sales in Q1-2013.
However, the SALE stock has been fluttering in the volatile price range for quite some time; the coupon marketplace operator witnessed two successive negative revisions by analysts in the last few weeks. Consequently, SALE’s earnings consensus dropped which showed up during real time trading, as the stock has slumped downwards over the past few weeks.
New Return-Shipping Law Might Slump Growth!
In an announcement on May 19, RetailMeNot Inc (NASDAQ:SALE) portrayed that eShopping is deemed to be hit, and consumers might be more frugal with investments and orders. The EU Consumer Rights Directive has issued an Act that the consumers need to bear the return costs for returning items bought online! This Act shall be in vogue June 13, 2014 onward.
