Canadian specialty pet food and pet-related supplies retailer Pet Valu Holdings has registered “double-digit growth” in consumables as the business continues to deliver on all key metrics.
For the 13-week period to July 1, revenue increased 12.6 per cent to C$256.4 million driven by growth in retail sales as well as franchise and other revenues.
Gross profit grew 7.9 per cent to $6.7 million while adjusted EBITDA increased 3.9 per cent to $53.8 million. Same-store sales were up by 6 per cent.
Richard Maltsbarger, president and CEO of Pet Valu, said the results highlight the company’s customer service, curated offering and omnichannel experience which has continued to resonate with “devoted pet lovers” across Canada.
“With a recent shift in consumer demand, our teams are prioritizing key projects, investments and talent to those actions that will continue to deliver the greatest value across the second half of this year and support our long-term profitable growth.”
For the full year, the company expects revenue to be in the range of $1.05 and $1.07 billion supported by a 7 to 10 per cent rise in same-store sales with 40 to 50 new store openings in the pipeline.
