New stores and online sales boost Petz’s results in Q2
The Brazilian pet store chain sold 56% more on its e-commerce platform and increased customers in omnichannel.
Petz reported gross revenue of R$ 800.7 million ($ 157.3 million), an increase of 33.9% compared with the previous year, when it hit R$ 597.9 million ($ 117,4 million).
The online business of the São Paulo-based company reached R$ 242.9 million (US$ 47.7 million), with App Petz accounting for 67%. The company’s omnichannel customers reached 2.3 million (+20%)
“We remain focused on executing the project to transform our business model,” claimed company CEO Sergio Zimerman.
Petz’s net income reached R$ 32.8 million (US$ 6.44 million) in Q2, 35.7% more.
Optimistic forecast
During the second quarter of the year, Petz opened 9 new stores and is now present in 20 states with 187 shops. The company aims to open 50 new stores by December.
“Our plan continues to be oriented towards consolidating the Petz brand nationally, at a time when around 50% of our store network is already located outside the state of São Paulo”, added Zimerman.
The Brazilian company also highlighted signs of a slowdown in Brazilian inflation, which opened the door to good future forecasts.
The company expects a “more constructive scenario” with positive consumer perspectives throughout the second half of 2022
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