Musti Group reporting robust growth (once more)

The Nordic pet care retailer Multi group reported a 11,3% growth for the Q3/2022. The growth was driven partly by openign new stores, as the store count increased by 7%. The Like for Like growth for the group was 4,7%.

The comparable growth for Musti has gradually declined from 10+% before the pandemic. However, the company has also grown by 50% since the pre-pandemic times.

One notable sign of the robustness of Musti’s growth was the strong 9,9% growth in Finland, the oldest market for the company. Finland is slightly bigger than Sweden (44 M€ vs 42,5 M€).

Despite the strong growth, Must has been able to sustain both solid Gross margins (45+% consistently) and good profitability.

All in all, Musti remains one of strongest performers in Nordic retailing.