// Jollyes reports strongest-ever full year performance as sales soar to £115.3m
// Like-for-like sales also grew by 17% over the full year
Jollyes has hailed record revenues last year with sales topping £100m for the first time.
The petcare specialists‘ sales soared from £87m to £115.3m as the business looks to hit more than 100 stores across the UK as it looks to maintain momentum post-pandemic.
For the year to May 29, 2023, like-for-like growth reached 17% – more than double the market growth reported by rival Pets at Home for the same period.
Now trading from 90 stores across the UK, today the business confirmed it has secured a new £3m facility from HSBC that will allow it to open at least 10 additional stores in the balance of calendar 2023.
As well as also introducing new branding, the retailer is investing £1m over the current financial year to “supercharge” the provision of vet clinics, grooming parlours, and other pet services in its stores.
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Between now and the summer of 2024, Jollyes said it will be doubling the number of stores that offer community pet clinics and doubling opening hours for those clinics.
Chief executive Joe Wykes said his long-term goal is to achieve £350m in revenues and have up to 250 stores.
His ambitions also include potentially floating the business within the next four to five years.
‘I feel like we can do what Pets at Home did but do it better,’ he claimed.
While Jollyes has a much smaller presence than Pets at Home Wykes is still confident his business is ‘making a dent in their aspirations’. ‘We feel like we are hurting them,’ he said.
Wykes said: “The value we provide, the local service we offer and the ranges we’ve developed are proving to be a powerful combination in the growing number of communities we serve.
“Fundamental to our continued outperformance of the market has been the deep pet expertise of our own people. I’d like to thank the whole team – colleagues old and new – for their efforts over the last 12 months. But like them, I’m excited about what more we can achieve in the years ahead.
“Today, fewer than one in five potential customers lives within five miles of one of our stores. With the right team, the right backing and the right ambition, we have a tremendous opportunity ahead of us to bring the value and service that’s already making an impact, to significantly more UK communities.”
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