Expanding Retailer Sees 4.7% Increase in Q1 Sales
- Pets Corner opens its 150th store in Cobham, Surrey
- 4.7% increase in like-for-like sales in Q1 2019
- EBITDA rose by 8% to £3.52m from October 2018 to December 2018
- Dogwood Natural Grooming Spas saw a 64% like-for-like sales increase in Q1 2019
- Plans to open 60 more spas over the next five years at £2.7m
- Turnover of £56.5m for year ending September 2018, forecasting £58.3m for 2019
- £8.06m EBITDA and 5.8% like-for-like sales increase in 2018
- CEO Dean Richmond credits new services and products for increased customer loyalty
- Yora sustainable pet food made with insects launched by Pet Family
Pet product retailer Pets Corner has opened its 150th store in Cobham, Surrey, amidst a 4.7% increase in like-for-like sales during the first quarter of 2019. The company’s EBITDA rose by 8% to £3.52 million compared to the same period last year. Its in-house pet grooming spa, Dogwood Natural Grooming Spas, experienced a 64% like-for-like sales increase in Q1 2019. Pets Corner plans to open 60 more of these spas over the next five years at a cost of £2.7 million. The retailer recorded a turnover of £56.5 million and EBITDA of £8.06 million for the year ending September 2018, with like-for-like sales up by 5.8%. For the current year ending September 2019, Pets Corner forecasts a turnover of £58.3 million and an EBITDA of £8.7 million. CEO Dean Richmond attributes this growth to new services such as Puppy Hour, Pet Food Expert, and their ROR range of raw foods, as well as the launch of Yora, a sustainable pet food product made with insects by parent company Pet Family.
Factuality Level: 10
Factuality Justification: The article provides accurate information about the company’s financial performance, expansion plans, and new products without any sensationalism or personal opinions.
Noise Level: 2
Noise Justification: The article provides relevant information about the financial performance and growth of Pets Corner, its new pet grooming spa business, and their sustainable pet food product Yora. It also includes quotes from the CEO. However, it lacks analysis or exploration of broader trends in the pet retail industry or long-term possibilities.
Financial Relevance: Yes
Financial Markets Impacted: Pets Corner’s financial performance and expansion plans impact the company itself and potentially local pet retail market
Financial Rating Justification: The article discusses Pets Corner’s financial performance, sales growth, and expansion plans which are relevant to the company and may have an impact on the local pet retail market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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