Jollyes delivers ‘best-ever’ results as sales rise to £33.7m

Jollyes has delivered its “best-ever” results as total sales in Q1 soared 33.6% to £33.7m compared with £25.3m the prior year. For the 13 weeks to 27 August 2023, like-for-like sales were also up 23%, a step up from the 17% like-for-like rise Jollyes achieved in FY23. The group said that the strong like-for-like growth excludes the average 80% LFL performance at six stores open slightly longer than a year, but not yet included in Jollyes’ like-for-like Q1 reporting. Jollyes attributed the like-for-like growth to its transaction growth and not via price inflation which only accounts for only 2% of that progress. In fact, it stated that the company has been able to reduce prices on key lines in the quarter despite inflation. Growth during the quarter was also supported by a significant increase in sign-ups to its PetClub (47%). In the quarter, Jollyes added three new stores in Swindon, Belfast (Boucher Road) and Merthyr Tydfil, bringing the total number of Jollyes stores to 93. Jollyes has now added 26 stores to its estate across the last two years, an increase of almost 40%. With the backing of a new multi-million facility from HSBC, Jollyes now confirms it intends to step-up its opening programme with another 10 new locations before the end of its financial year in May 2024, allowing it to break through the 100-store mark well ahead of schedule. Store openings planned over the rest of the calendar year include Harrogate and Widnes (both end September), Swadlincote (end October) and Reading and Hull (end November). In the first half of 2024 Jollyes also plans to open additional stores in North and South Yorkshire, Tyneside, Bristol, South Wales, Northern Ireland and Central Scotland. Additionally, in Q1, Jollyes also completed the relaunch of all its spas to new Jolly Groomer branding with simple pricing so customers only pay for the services they need. The roll out of Jolly Groomers is part of a £1m investment in the provision of vet clinics, grooming parlours and other pet services in its stores. Lastly, over the quarter Jollyes has also invested in its colleagues as it embarks on an ambition to be “one of the best employers in retail”. The business has launched a package of benefits for all its 1,000-plus colleagues nationwide, including birthday leave, a ‘pet-eternity’ day for colleagues getting a new pet in the family, a week off on full pay for all colleagues on when they get married, enhanced maternity and paternity leave and an enhanced 20% discount off all Jollyes services. It has also continued with its SQP training programme in Q1 through Vetpol, with another 52 colleagues in training looking to join the 132 suitably qualified colleagues able to dispense veterinary medicines. Joe Wykes, chief executive officer of Jollyes, said: “Our performance in our opening quarter of this financial year underlines the effectiveness of the strategy we’ve put in place – delivering exceptional value to our customers, powered by the most knowledgeable colleagues in the industry. “It’s clear that the dedication of our people and our commitment to value, combined with smart use of our PetClub membership data, is a compelling recipe, delivering strong performance in our existing stores and allowing us to open new locations that perform from day one. Growing retailers – especially those developing at our pace – are exciting places to work, but I know that can also be demanding on our own people. Once again I’d like to thank our whole team for what they’ve all contributed. Nothing has made me prouder this quarter than the investment we’ve made in them, as we work hard to be one of the best employers in retail.”

Jollyes delivers ‘best-ever’ results as sales rise to £33.7m

Growth during the quarter was also supported by a significant increase in sign-ups to its PetClub (47%)

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