E-commerce accounts for 40% of Petz’s business
The Brazilian pet retailer increased its revenue by 6.8% in the third quarter of 2023.
Petz Group hit a gross revenue of R$945.1 million ($192M/€179.9M) from June to September 2023, a 6.8% increase from the same period in 2022, when it brought in R$884.6 million ($179.2M/€167.8M).
The retailer noted a standalone revenue of R$867.6 million ($157.7M/€164.7M), an increase of 9% compared to Q3 2022. This increase was mainly boosted by its digital channel’s “robust performance.” E-commerce represented 39.5% of the company’s revenue in Q3, bringing in R$342.4 million ($70.5M/€65M).
However, gross revenue from acquisitions noted a slight decline of 3.7% to R$97.213 million ($19.6M/€18.4M). Petz told investors that Zee.Dog, the accessory brand it acquired in 2021, was impacted by inflation.
Gross profit increased 1.6% last quarter to R$361.3 million ($73.1M/€68.5M).
Petz opened 6 new outlets—4 outside of São Paulo—between June and September 2023. In the past 12 months, the retailer achieved 38 new openings in 16 different states and says it remains on track to open 30–40 new locations in 2023.
From January to September, the Brazilian pet retailer hit R$2.8 billion ($566.9M/€531.3M) in revenue, up from R$2.4 billion ($485.9M/€455.6M). The 15.2% increase has been attributed to the business’ good performance.
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