Jollyes on track to open 100th store in 2023
The British pet retailer increased its yearly sales by 33%.
British pet retailer Jollyes announced its plans to further expand after experiencing a “record-breaking year,” yielding £115.5 million ($144.6M/€133.4M) in FY2023.
In 2022, the retailer’s revenue accounted for £87 million ($109.4M/€101.3M).
Jollyes’ like-for-like sales grew by 17% over the year. The company also stressed that 60% of that increase was due to transaction growth, not inflation.
The retailer attributed the increase to higher sales at existing stores, the opening of new stores and acquisitions. Furthermore, they highlight that there has been a “rising digital demand” for their home delivery and click-and-collect services.
More stores
Currently, Jollyes has 90 stores operating across the UK and opened 13 stores during the course of FY2023. “Today, fewer than one in five potential customers lives within five miles of one of our stores,” CEO Joe Wykes commented on the expansion.
The retailer also announced it secured a £3 million ($3.8M/€3.5M) facility from banking group HSBC to open an additional 10 stores by the end of the year.
The company said that some of the locations for its upcoming openings include Belfast Boucher Road (July), Swindon (July), Merthyr Tydfil (August), Harrogate (September) and Swadlincote (November). Jollyes intends to open locations in central Scotland, Northern Ireland, Berkshire, Kent and Somerset.
By summer 2024, the company hopes to double the number of stores that offer pet clinics and the number of grooming locations by the end of June.
Jollyes’ FY2023 turnover has exceeded targets based on the retailer’s previous prediction, which forecasted hitting £100 million ($128.1M/€116.9M).
Raw frozen and private label
The British retailer has recognized the trend of buying frozen raw food and said it rolled out 5 full raw ‘shop-in-shop’ concepts in Edinburgh, Llanelli, Milton Keynes, Newport (Isle of Wight) and Romford.
The performance of its private label brands grew by 64% in the last year, the company said.
Over half of all dog food sold across Jollyes’ shops is an in-house brand, with around 25% better value than its branded equivalent.
