In comparison to the last quarter of 2020, Musti could increase its sales 20.2% to € 101.3 million ($115.6M) in the last three months of 2021.
CEO David Rönnberg stated:
“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.”
The company could increase online as well as in-store sales. After opening 14 new stores, 320 in total now, the sales grew by 24.9% to €77.9 million ($89M). The online sales, that now constitute for 21.5% of all sales, could increase by 19.6% to €21.8 million ($24.9M).
In these three months, Musti could attend 1.34 million customers in total.
“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.