Fressnapf Group posts record half-year results
With 21.2% growth in the last 6 months, the German retail giant sets its sight on €3 billion ($3.5b) in sales by the end of the year.
In its most successful first half the year, gross sales totaled almost €1.5 billion ($1.76 billion). Sales grew by €273 million compared to the previous year.
Of the €1.48 billion ($1.74b) in sales, €857 million ($1b) was in Germany, the remaining €624m ($734m) came from the other ten countries the group is active in.
The number of transactions increased by 13.3%, representing almost 50 million customers. The average ticket size has also grown by 7%. On average, Fressnapf and Maxi Zoo customers shop for €25 each.
Sales of accessories have grown by 22%, while the pet food category has grown by 20 percent.
Founder and CEO Torsten Toeller is confident the group will pass the €3 billion ($3.5b) mark.
The growing number of households with pets in Germany and Europe remains an important driver for growth.
Exclusive brands
Fressnapf’s exclusive brands have so far grown to €626 million ($736m) in sales, with brands like Select Gold, Real Nature and MultiFit. That’s a 16% growth rate compared to the previous year
Expansion
88 of the 136 new locations that were planned for this year have been opened. This includes the 36 locations in Denmark Fressnapf took over with its acquisition of competitor PetWorld.