Pet Valu posts Q2 net income of $25.3M, boosts full-year outlook

Pet Valu reported second-quarter net income of $25.3 million, down from $44.3 million a year ago, and raised its full-year outlook.

The pet supplies retailer says revenue totalled $227.7 million, up from $182.2 million in the same quarter last year, an increase of 25 per cent.

System-wide sales were $312.5 million in the second quarter, an increase of 35 per cent versus the prior year.

Same-store sales were up 21.2 per cent in the second quarter, primarily driven by a 19.3 per cent increase in same-store transactions and a 1.5 per cent increase in same-store average spend per transaction. This is compared to same-store sales growth of 28.4 per cent in the same period last year.