Petz posts significant sales increases after declining in-store shopping

Petz generated R$848,811 ($147,742/€137,810) in net revenue from products and services in the third quarter of 2024, 6.9% more than during the same period last year.

After several quarters of weak store growth, Petz reported a 3.4% increase in same-store sales between July and September. Online sales had previously kept the company’s numbers up, while retail stores experienced a 10.2% decline in sales.

Gross profit hit R$395 million ($68.4M/€63.8M) in Q3 2024, up from R$361 million ($62.5M/ €58.3M) during the same period last year – a 9.4% increase.

The rise in store sales helped drive the company’s net revenue from products and services to R$2.4 billion ($418M/€390M) in the first 9 months of 2024.

“These results reinforce our confidence in Grupo Petz’s growth strategy, demonstrating not only our resilience but also our ability to create experiences that delight our customers,” says Petz President and Founder Sergio Zimerman.

Zee.dog and Petix

Petz’s Zee.dog brand achieved record revenue in Q3 2024, which the company attributed to a successful collaboration with Marvel. As part of the promotion, the brand sold superhero-themed pet accessories, which helped boost profits.

According to the company, accessories sales increased by 11.4% across all channels.

The company also reported growth in its global channel as Zee.dog sells more goods in European markets.

Petix, a Petz subsidiary that manufactures dog pee pads, also helped boost growth.

Footprint expansion

Petz is expanding both its online presence and retail space. The company launched a subscription service, Clubz, which offers loyalty rewards to repeat customers.

In Q3 2024, Petz opened 5 new stores across 4 Brazilian states, bringing its total number of locations to 257 across 24 of the country’s 26 states.

The retailer is in the process of merging with Cobasi, which would create a chain with 500 stores across Brazil. However, the company is still awaiting approval from the Administrative Council for Economic Defense (CADE), Brazil’s anti-trust regulator.

(Photo credit: Petz)