Pet Valu Holdings Ltd., the leading Canadian specialty retailer of pet food and pet-related supplies, has announced its financial results for the fourth quarter and fiscal year ended December 28, 2024, describing it as a “dynamic year.”
For the year, system-wide sales were $1.452 billion, an increase of 2.3% versus the prior year but same-store sales declined was 0.5%. Revenue was $1.097 billion, up 3.9% versus the prior year.
“We closed out a dynamic year with strong operational execution, together with favourable revenue and profit results in the fourth quarter,” said Richard Maltsbarger, Chief Executive Officer of Pet Valu.
“These outcomes were supported by our fully operational GTA and Surrey distribution centres, improved online capabilities, highly relevant promotional cadence and solid cost management across our teams.
“2025 will be another exciting year, as we complete our supply chain transformation and deploy improved promotions and pricing tools to enable a return to same-store sales and profit growth as we progress through the year.”
Full financial results can be found here.
In the fourth quarter, system-wide sales were $388.1 million, an increase of 2.4% versus Q4 2023. Same-store sales decline was 0.2%. Revenue was $295.1 million, up 2.9% versus Q4 2023. Adjusted EBITDA was $68.2 million, down 4.3% versus Q4 2023, representing 23.1% of revenue. Operating income was $47.9 million, down 0.8% versus Q4 2023. Net income was $28.9 million, up from $28.8 million in Q4 2023.
For the year, Adjusted EBITDA was $247.1 million, up 6.9% versus the prior year, representing 22.5% of revenue. Operating income was $155.3 million, down 3.4% versus the prior year. Net income was $87.4 million, down from $89.5 million in the prior year.
For 2025, Pet Valu said it expects revenue between $1.17 and $1.20 billion, and Adjusted EBITDA between $254 and $260 million.
Pet Valu is Canada’s leading retailer of pet food and pet-related supplies with over 800 corporate-owned or franchised locations across the country. It has been in business for more than 45 years and offers more than 10,000 products, including a broad assortment of premium, super premium, holistic and award-winning proprietary brands. The company is headquartered in Markham, Ontario.
