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PetMed Express Q3 Group Revenue Up 4.3%

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

PetMed Express Inc. (PETS.L) reported that its group revenue for the third quarter rose 4.3% to 362.4 million pounds, with group like-for-like or LFL revenue increased 4.4%.

Quarterly consumer revenue was up 6.0% on last year and 15.4% on a 2-year basis. Growth was supported by growing average customer spend and growth in active VIP members, up 2% year-over-year to 7.7 million.

The company now expects fiscal year 2024 group underlying profit before tax to be about 132 million pounds, which assumes no sequential improvement in Retail business LFL run rate through fourth quarter as it trades against a period of exceptionally strong trading last year. The company's expectations of its Vet Group performance are unchanged.

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