Repeat customers fuel shoes.com's record Q1

Fast-growing retailer shoes.com is on track to generate $300 million in sales after reporting a blockbuster first quarter.

In its first quarterly financial report since consolidating three online businesses under one platform, the company reported an increase in gross revenue of 89% to a record $60 million and a 129% increase in revenue from repeat customers. Gross profit margins remained robust at 44%.

"We're thrilled with the strong start to 2015 and significant growth across all key performance indicators," said Roger Hardy, CEO of shoes.com. "We’ve accomplished a lot since combining SHOEme.ca, OnlineShoes.com and shoes.com only nine months ago and we’ve already seen enormous increases in new and returning customers to our sites. We believe this is testament to our exceptional service, engaging content, and highly curated shopping experience. Over the next few quarters we expect to see our growth accelerate as we continue to focus on delivering the world’s best service and selection.”

During the quarter the company opened a 150,000-square-foot fulfillment center near Columbus, Ohio.

During the quarter the company also says it strengthened its executive team in with the addition of Scott Julian as senior director of merchandising, formerly of Zappos; Elsa D’Andrea as director of style and care, formerly of Lululemon; Geoff Henshaw as VP of brand and retail strategy, formerly of Coastal Contacts; and Tim Vipond as VP of corporate finance, formerly of Goldcorp.

Nick Bozikis, CFO of shoes.com, added: “Our financial results confirm our tier one growth rates, tier one margins, and high customer retention rates relative to e-commerce peers.”

Shoes.com has more than 200 employees across North America, over 500 brands and 8 million customers. The company owns and operates shoes.com, OnlineShoes.com and SHOEme.ca and is headquartered in Vancouver, Canada.