Nordic pet retailer Musti Group published its quarterly results, and it’s record-breaking
In the last quarter of 2021, Musti grew to € 101.3 million ($115.6M) in sales, which is a 20.2% increased compared to the same period the year before.
CEO David Rönnberg shares:
“I couldn’t be happier to present the first quarter results today with record-breaking sales and profitability performance. December quarter proved our agility, resilience to global challenges and the strength of our concept in a difficult business environment colored by the supply chain challenges impacting global trade, and the new rapidly spreading wave of the COVID-19 variant. We managed to stay unaffected during the very important Christmas period, adapting our operations to be able to continue providing our segment leading levels of pet care to customers with an excellent availability of products on shelves and online.”
Store vs online sales
Sales from their stores increased by 24.9% to €77.9 million ($89M) in the quarter. Part of this growth comes from adding 14 stores to their network, now totaling 320 stores.
Online sales on the other hand increased by 19.6% to €21.8 million ($24.9M). Online sales now account for 21.5% of total sales.
Customer data highlights
- Musti has served a total of 1.34 million customers in the quarter.
- Average spend per loyal customer increased to €187, up from €183 a year ago.
“I am very proud of the progress we are making. Our unique ability to combine a growing portfolio of products, services and advice into convenient propositions for Pet Parents is a key enabler of how we consistently outgrow the market in which we operate. I am sincerely grateful to all our employees across the Group for their tireless work and dedication. Employee satisfaction will be in the focus going forward too, and together we will continue to support and safeguard the furry everyday life of pet lovers in the Nordics and deliver according to our strategy for long-term profitable growth,” Rönnberg shares.
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