Pet retailer Jollyes has best-ever Q1 fueled by 100-store target
The UK company plans to add 10 new locations by May 2024.
Essex-headquartered pet retailer Jollyes has reported its best-ever Q1 this year, which concluded on August 27. Total net sales reached £33.7 million ($42.3M/€39.3M), 33.6% higher than the £25.3 million ($31.7M/€29.5M) it posted during the same period last year.
The record-breaking quarter was fueled by Jollyes’ mission to open 100 stores by the end of this year.
The company expects to hit the target “well ahead of schedule.”
Close to 100-store target
Speeding toward their 100-store target, Jollyes has 93 retail outlets, with 3 new openings in Q1 alone. Shops are opening at an accelerated rate, as the retailer has opened 26 new outlets over the last 2 years, marking an almost 40% increase in the company’s stores.
Building on the store momentum, Jollyes is showing no signs of easing up and plans to add an additional 10 locations before the end of FY2024 in May.
Standout figures
In Q1, Jollyes noted its like-for-like sales were up 23.1%. This growth came from an increase in transactions and not through price inflation (which only accounted for 2% of the growth).
The company claims it “continues to grow materially faster than other retailers in the pet sector.”
Jollyes also noted a significant boost of 47% in sign-ups for its PETCLUB membership program, stating that this increase supported the growth seen this quarter and “the extra value membership brings.”
Jollyes continues to invest in services. The retailer relaunched its spas with new branding and pricing, as part of a £1 million investment in the provision of vet clinics, grooming parlours and other pet services in its stores.
