Pet Valu, a Canadian specialty retailer of pet food and supplies, announced its financial results for the fourth quarter and fiscal year ended December 28, 2024. In Q4, system-wide sales reached $388.1 million — an increase of 2.4% compared to Q4 2023 — with revenue of $295.1 million, up 2.9%. Adjusted EBITDA for the quarter was $68.2 million, representing 23.1% of revenue, while net income was $28.9 million. The company also opened 19 new stores, bringing its total to 824 locations.
For the full fiscal year, Pet Valu reported system-wide sales of $1,452.9 million, a 2.3% increase, and revenue of $1,097.2 million, up 3.9% from the previous year. Adjusted EBITDA rose by 6.9% to $247.1 million (22.5% of revenue), with net income of $87.4 million. Adjusted net income came in at $113.3 million, or $1.57 per diluted share, compared to $116.5 million, or $1.61 per diluted share, in the prior year.
Looking ahead to 2025, the company expects revenue between $1.17 and $1.20 billion, adjusted EBITDA between $254 and $260 million, and adjusted net income per diluted share between $1.60 and $1.66, with net capital expenditures of approximately $35 million.
"We closed out a dynamic year with strong operational execution, together with favorable revenue and profit results in the fourth quarter," said Richard Maltsbarger, CEO of Pet Valu. "These outcomes were supported by our fully operational GTA and Surrey distribution centers, 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."
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.
Adapted from a press release.
