Report Reveals Key Retail Numbers

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Report reveals key retail numbers
10th November 2017

By Karen Pickwick
World Pet Association – founded in 1950 and known for hosting events such as SuperZoo, Atlanta Pet Fair & Conference, Aquatic Experience and America’s Family Pet Expo – has released its 2017 Retail Operating Performance Report for sale to pet retailers and service providers.
 
The report was commissioned by WPA in collaboration with Pet Store Pro and surveyed 118 US pet retail companies, representing more than 250 retail locations and including retail stores with animals, dry goods only, and grooming. It provides guidelines and benchmarks to help pet professionals evaluate financial and operating performance compared with a cross-section of the industry and includes a compilation on and analysis of sales and operations data, as well as additional profile information. 
 
The strategic analysis is designed to help pet retailers monitor and manage expenses, measure and improve productivity, evaluate employee effectiveness and improve their company’s bottom line. Key areas evaluated include: overall performance, management ratios, cash cycle, liquidity measures, employee productivity ratios, sales performance and space productivity ratios.
 
 
Among the most interesting findings, the 2017 report found respondents:
 Had typical sales volume of $863,704 (£659,265) and a median ticket of $34.94 (£26.68) per transaction
 Reported net profit before taxes of 7% (up from 5% in 2016)
 Average sales growth of 5.3% in 2016 and forecasted growth of 5.8% in 2017
 Reported income from grooming accounts for 46.4% of revenue for the average Grooming Store, with a nearly comparable percentage of income (43.7%) coming from net sales of merchandise and boarding services
 Reported total revenues per selling square foot of $226 (£172.51) and operating margins per square foot of $124 (£94.64)
 Reported plans to initiate online sales in the next two years (43.6%).