Jollyes reports strongest-ever full year performance
Jollyes, the rapidly-growing nationwide pet superstore confirmed that it has completed a record-breaking financial year and now intends to accelerate growth as it brings its offer to more communities across the UK.
Sales in FY23 broke through the £100m threshold, rising 33% from £87m in FY22 to £115.5m in the year to 29th May 2023.
The announcement comes as the retailer celebrated the opening of its new Community Pet Clinic service with a fun event at its Newry store.
Like-for-like sales also grew by 17% over the full year, over double the market which grew at eight per cent. Sixty per cent of the like-for-like increase has come from transaction growth not inflation – an indication of how Jollyes has protected customers from rising prices.
The increase in turnover continues through a mix of higher sales at existing stores, new openings and acquisitions, and rising digital demand for home delivery and click and collect services.
STORES
Now trading from 90 stores across the UK, Jollyes opened 13 new locations in the financial year and confirmed it had secured a new £3m facility from HSBC that will allow it to open at least 10 additional stores in the balance of calendar 2023.
Store openings already agreed for the coming months include Belfast Boucher Road (July), Swindon (July), Merthyr Tydfil (August), Harrogate (September) and Swadlincote (November).
Subject to successful lease negotiations, it also has plans to open at least five additional new stores this calendar year in central Scotland, Northern Ireland, Berkshire, Kent and Somerset, putting Jollyes on course to reach its 100-store target ahead of schedule.
JOBS
As Jollyes has rapidly developed its reach, it has been able to deliver more dream jobs to those looking to work with animals.
Over the financial year it has added over 160 people across the UK, employing its 1,000th colleague in April at its new Christchurch store and ending the year with 1,021 on the Jollyes team.
During the year it has given colleagues £600 to help support them through the cost-of-living crisis and enhanced staff discounts of up to 60%.
It has also continued with its SQP training programme in FY23 through Vetpol, and after 45 colleagues passed their exams in H2, Jollyes now has 131 suitably qualified colleagues trained to dispense veterinary medicines.
SERVICES
As well as investing in its colleagues and new stores, Jollyes has invested in its existing estate, giving significant makeovers to an additional 10 stores across the UK.
As well as introducing new branding, it is investing £1m over the current financial year to supercharge the provision of vet clinics, grooming parlours and other pet services in its stores.
Between now and the summer of 2024, Jollyes is doubling the number of stores that offer community pet clinics and doubling opening hours for those clinics. It is also doubling the number of grooming locations and by the end of June, all of its pet spas will be re-branded, refurbished and re-launched as “The Jolly Groomer”.
PRIVATE LABEL
Jollyes is investing in its pet food ranges to deliver its promise to be the best value pet shop in town.
As more and more pet owners switch on to the health and wellbeing benefits of raw frozen food, it has rolled out five full raw ‘shop-in-shops’ in Edinburgh, Llanelli, Milton Keynes, Newport (Isle of Wight) and Romford.
It has also invested significantly in high quality private label pet food such as its own Lifestage, K9 and Rileys brands which offer a premium experience without a big brand price tag.
Over the course of the financial year, private label sales have grown by 64% as customers take advantage of the value and quality its in-house brands provide. Now over half of all dog food sold in Jollyes is an in-house brand, approximately 25% better value than its branded equivalent.
Jollyes chief executive officer Joe 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.”
