CARSON, Calif. U.S. Auto Parts Network has reported net sales for the first quarter ended March 30, 2013, of $65.4 million, compared with net sales of $87.4 million for the first quarter ended March 31, 2012. This is a decrease of 25.2 percent from first quarter 2012 net sales.
First quarter 2013 net loss was $3.3 million, or 11 cents per share, compared with first quarter 2012 net loss of $0.8 million, or 3 cents per share.
Net sales decreased to $65.4 million for the first quarter of 2013 compared to $87.4 million in the first quarter of 2012. The company said first quarter 2013 net sales consisted of online sales, representing 89.6 percent of the total (compared to 93.4 percent in the first quarter of 2012), and offline sales, representing 10.4 percent of the total (compared to 6.6 percent in the first quarter of 2012).
The company said the net sales decrease was primarily due to a decline of $23 million, or 28.2 percent, in online sales, partially offset by a $1 million, or 17.6 percent, increase in offline sales. Online sales decreased primarily due to a 23.2 percent reduction in e-commerce unique visitors. Offline sales, which consist of the company’s Kool-Vue and wholesale operations, continued to show solid growth, the company noted.
Gross profit decreased $6.9 million, or 25.9 percent, in the first quarter of 2013 compared to the first quarter of 2012. Gross margin rate decreased 0.3 percent to 30.2 percent in the first quarter of 2013 compared to 30.5 percent in the first quarter of 2012. Gross margin was unfavorably impacted by higher freight and warehouse supplies expense partially offset by higher selling margins from higher penetration of sales from the company’s private label business.