Musti Group with strong like-for-like growth from online sales

Musti Group keeps on growing on top of growing wave of pet care market. For the first time since Q3/2021, online channel outpaced the stores in growth. The total group revenue surpassed 400 M€ for the first during this quarter.

The continued growth came partly at the expense of profitability. This was influenced by difficult trading environment surrounding the company as well as the increased inventory. The inventories grew by 20% and was slightly above the long term average.

“This is an excellent achievement especially when viewed against the very strong prior year period, and the challenging macroeconomic environment, where accelerating inflation and the exceptional headwinds of the weakening SEK and NOK vs the EURO continued to place incremental pressure on both our customers and us.” David Rönnberg, CEO of Musti Group

The company also emphasised in the quarterly report that about 70% of purchases are repeat in nature, such as pet foods and cat litter. These product categories “grew double-digit”. This underlines the importance of the strong customer loyalty for the Musti Group. The number of loyal customers also increased by 11%.