HomeLoansPet Valu Reports Second Quarter 2022 Results

Pet Valu Reports Second Quarter 2022 Results

Revenue up 25%; Adjusted EBITDA(1) grew 23%
Raises full-year outlook following strong performance in first half of 2022

MARKHAM, ON, Aug. 9, 2022 /CNW/ – Pet Valu Holdings Ltd. (“Pet Valu” or the “Company”) (TSX: PET),  the leading Canadian specialty retailer of pet food and pet-related supplies, today announced its financial results for the second quarter ended July 2, 2022.

Second Quarter Highlights

  • System-wide sales(2) were $312.5 million, an increase of 35.0% versus the prior year. Excluding Chico(3), system-wide sales grew 24.4%, and same-store sales(2) grew 21.2%, with both basket and traffic growth contributing.
  • Revenue was $227.7 million, an increase of 25.0% versus the prior year. Excluding Chico, revenue grew 23.6%, in-line with system-wide sales growth.
  • Adjusted EBITDA(1) was $52.1 million, up 23.0%, representing 22.9% of revenue.
  • Operating income was $39.3 million,…

Read more at www.newswire.ca

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