Leading the way in sales, pet essentials such as food and consumables account for over 70% of Musti Group‘s total sales. The Helsinki-based pet retailer achieved impressive sales of €103.3 million ($113.9M) between April and June 2023, marking an 8.2% surge from the same period last year when sales amounted to €95.5 million ($105.3M).
During this timeframe, Musti Group expanded its store count to 341, with the addition of 12 new outlets by Q3 2022. The number of loyal customers also showed growth, increasing from 1.40 million to 1.52 million within a year.
CEO David Rönnberg expressed contentment with the “solid” quarterly performance, emphasizing the consistent demand for consumables, which made up an impressive 70% of total purchases. Rönnberg remarked the distinct strategy of bundling a diverse array of products, services, and guidance for pet owners, contributing to their sustained outperformance in relevant markets.
Zooming out, the period from October 2022 to June 2023 saw Musti Group’s net sales rise significantly to €315.4 million ($347.7M), reflecting a noteworthy 9% growth compared to the previous year’s €289.3 million ($318.9M). Moreover, operating profit exhibited remarkable growth, surging by 21.5% from €22.3 million ($24.5M) to €27.1 million ($29.8M).
Setting ambitious targets, the Nordic retailer aims to achieve a substantial net sales milestone of at least €500 million ($551M) by the end of FY 2024. This aspiration will be realized through a strategic focus on customer acquisition and an enhanced share of customer spending.
Rönnberg also offered insights into the seamless integration of the Finnish Premium Pet Food Suomi Oy factory in Lieto, Finland. This integration not only progressed smoothly but also bolstered Musti Group’s commitment to providing ecologically sustainable products.
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