Exhibit 99.1

PETMED EXPRESS D/B/A 1-800-PETMEDS

ANNOUNCES ITS THIRD QUARTER FINANCIAL RESULTS

Pompano Beach, Florida, January 21, 2014 - PetMed Express, Inc. (NASDAQ: PETS) today announced its financial results for the quarter ended December 31, 2013.  Net sales for the quarter ended December 31, 2013 were $50.1 million, compared to $49.6 million for the quarter ended December 31, 2012, an increase of 1.0%.  Net sales for the nine months ended December 31, 2013 were $184.8 million, compared to $176.7 million for the nine months ended December 31, 2012, an increase of 4.6%.  Net income was $4.5 million, or $0.23 diluted per share, for the quarter ended December 31, 2013, compared to net income of $4.6 million, or the same $0.23 diluted per share, for the quarter ended December 31, 2012.  Net income was $13.4 million, or $0.67 diluted per share, for the nine months ended December 31, 2013, compared to net income of $12.6 million, or $0.63 diluted per share, for the nine months ended December 31, 2012, a 7.2% increase to EPS.  Reorder sales increased by 3.6%, from $40.9 million to $42.4 million for the quarters ended December 31, 2012 and 2013, respectively.  Additionally, the Company’s online sales increased by 2.1% to $39.5 million for the quarter ended December 31, 2013, compared to $38.7 million for the same quarter the prior year, with approximately 79% of all orders being generated from its website during the quarter compared to 78% for the same quarter the prior year.  

Menderes Akdag, CEO and President, commented: “We are pleased with the increased reorder sales for the quarter.  Our sales increase for the quarter was also highlighted by an increased average order size - $72 for the quarter ended December 31, 2013 compared to $71 for the same quarter in the prior year.  For the quarter ended December 31, 2013 our operating expenses decreased by 50 basis points.  Going forward we are focusing on improving our gross profit margins and new order sales.”

This morning at 8:30 A.M. Eastern Time, Mr. Akdag will host a conference call to review the quarter’s financial results.  To access the call, which is open to the public, please dial (888) 455-1758 (toll free) or (203) 827-7025.  Callers will be required to supply PETMEDS as the passcode.  For those unable to participate in the live event, the call will be available for replay from 10:00 A.M. on January 21, 2014 until February 4, 2014 at 11:59 P.M.  To access the replay, call (800) 860-4709 (toll free) or (203) 369-3837, and enter passcode 5500.

Founded in 1996, PetMed Express is America’s Largest Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs and cats at competitive prices direct to the consumer through its 1-800-PetMeds toll free number and on the Internet through its website at www.1800petmeds.com.

This press release may contain “forward-looking” statements, as defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, that involve a number of risks and uncertainties, including the Company’s ability to meet the objectives included in its business plan.  Important factors that could cause results to differ materially from those indicated by such “forward-looking” statements are set forth in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the PetMed Express Annual Report on Form 10-K for the year ended March 31, 2013.  The Company’s future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-Q and its Annual Report on Form 10-K.

For investment relations contact PetMed Express, Inc., Bruce S. Rosenbloom, CFO, 954-979-5995.

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Exhibit 99.1 Page 1 of 4

December 31,

March 31,

2013

2013

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$

25,937

$

18,155

Short term investments - available for sale

15,516

15,490

Accounts receivable, less allowance for doubtful accounts of $6 and $5, respectively

1,650

1,439

Inventories - finished goods

24,541

31,601

Prepaid expenses and other current assets

1,976

1,090

Deferred tax assets

997

982

Prepaid income taxes

165

-

Total current assets

70,782

68,757

Noncurrent assets:

Prepaid expenses

1,993

1,430

Property and equipment, net

1,474

2,132

Intangible asset

860

860

Total noncurrent assets

4,327

4,422

Total assets

$

75,109

$

73,179

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

4,043

$

6,454

Accrued expenses and other current liabilities

2,194

2,381

Income taxes payable

-

162

Total current liabilities

6,237

8,997

Deferred tax liabilities

99

168

Total liabilities

6,336

9,165

Commitments and contingencies

Shareholders' equity:

Preferred stock, $.001 par value, 5,000 shares authorized; 3 convertible shares issued and outstanding with a liquidation preference of $4 per share

9

9

Common stock, $.001 par value, 40,000 shares authorized; 20,190 and 20,109 shares issued and outstanding, respectively

20

20

Additional paid-in capital

1,228

-

Retained earnings

67,554

63,987

Accumulated other comprehensive loss

(38

)

(2

)

Total shareholders' equity

68,773

64,014

Total liabilities and shareholders' equity

$

75,109

$

73,179

Three Months Ended

Nine Months Ended

December 31,

December 31,

2013

2012

2013

2012

Sales

$

50,086

$

49,609

$

184,759

$

176,709

Cost of sales

33,197

32,397

124,605

117,823

Gross profit

16,889

17,212

60,154

58,886

Operating expenses:

General and administrative

5,106

5,147

16,484

16,440

Advertising

4,517

4,602

21,896

21,876

Depreciation

219

254

697

831

Total operating expenses

9,842

10,003

39,077

39,147

Income from operations

7,047

7,209

21,077

19,739

Other income:

Interest income, net

46

141

141

264

Other, net

(3

)

(3

)

(5

)

(3

)

Total other income

43

138

136

261

Income before provision for income taxes

7,090

7,347

21,213

20,000

Provision for income taxes

2,549

2,770

7,767

7,437

Net income

$

4,541

$

4,577

$

13,446

$

12,563

Net change in unrealized gain (loss) on short term investments

9

(83

)

(36

)

(58

)

Comprehensive income

$

4,550

$

4,494

$

13,410

$

12,505

Net income per common share:

Basic

$

0.23

$

0.23

$

0.68

$

0.63

Diluted

$

0.23

$

0.23

$

0.67

$

0.63

Weighted average number of common shares outstanding:

Basic

19,925

19,808

19,892

19,963

Diluted

20,079

19,923

20,042

20,077

Cash dividends declared per common share

$

0.17

$

1.15

$

0.49

$

1.45

Nine Months Ended

December 31,

2013

2012

Cash flows from operating activities:

Net income

$

13,446

$

12,563

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

697

831

Share based compensation

1,105

1,496

Deferred income taxes

(84

)

(77

)

Bad debt expense

75

37

(Increase) decrease in operating assets and increase (decrease) in liabilities:

Accounts receivable

(286

)

791

Inventories - finished goods

7,060

7,498

Prepaid income taxes

(165

)

199

Prepaid expenses and other current assets

(1,449

)

(337

)

Accounts payable

(2,411

)

(645

)

Income taxes payable

(162

)

246

Accrued expenses and other current liabilities

(152

)

(761

)

Net cash provided by operating activities

17,674

21,841

Cash flows from investing activities:

Net change in investments

(62

)

(5,166

)

Purchases of property and equipment

(39

)

(529

)

Net cash used in investing activities

(101

)

(5,695

)

Cash flows from financing activities:

Dividends paid

(9,914

)

(28,896

)

Purchases of treasury stock

-

(3,865

)

Tax adjustment related to restricted stock

123

(168

)

Net cash used in financing activities

(9,791

)

(32,929

)

Net increase in cash and cash equivalents

7,782

(16,783

)

Cash and cash equivalents, at beginning of period

18,155

46,801

Cash and cash equivalents, at end of period

$

25,937

$

30,018

Supplemental disclosure of cash flow information:

Cash paid for income taxes

$

7,776

$

7,237

Dividends payable in accrued expenses

$

241

$

351