Das Futterhaus posts 2024 financial year earnings, facing declines for the first time

Based in Schleswig-Holstein, the most northern state in Germany, Das Futterhaus posted total sales of €577 million ($601M) in 2024, down by 0.6% from 2023.

Kurt Bisping, the firm’s Commercial Managing Director, states that this is the first time the company has not grown.

The change was uneven, however. The retailer says its Austrian market grew during the year, with a 0.6% increase to €57.7 million ($60.1M). This was offset by the company’s much larger German market.

There, sales declined by 0.7% to €519.3 million ($540M). Das Futterhaus has 442 locations in total, 51 of them in Austria.

Weak consumer mood?

Bisping blamed the country’s weak consumer mood. According to NielsenIQ, German consumers have been increasingly gloomy in recent months as inflation continues to weigh on purchasing decisions and recession fears grow.

Data from the market intelligence firm shows that willingness to buy dropped in December and January.

Due to declining income prospects, willingness to buy is at its lowest since August. However, consumer confidence remains stronger than it was in 2023.

Optimism

Despite posting a sales decline, Das Futterhaus says it is in a good position to pursue strategic goals as earnings were relatively on par with the prior year.

The company, traditionally a brick-and-mortar chain, is transitioning toward omnichannel sales and investing in digital infrastructure. Das Futterhaus recently digitized its customer loyalty card as part of its modernization. Its mobile app now boasts 600,000 active users, a number officials say exceeded their expectations.

Das Futterhaus’ online store is said to launch at the end of the first quarter.