Europe's leading online retailer for pet products, Zooplus, seems to be gaining momentum in the coronavirus crisis. The company announced on 7 May that it aims to increase its sales target for this year by 225 mio euros instead of 180 mio euros as projected, and its earnings before interest, tax, depreciation and amortisation (EBITDA) from a projected "slight increase" to growth of 20 mio euros.
Sales at Zooplus increased by 21 per cent to 440 mio euros in the first quarter of 2020 on the basis of preliminary figures. The EBITDA grew to 8.1 mio euros, compared to 2.2 mio euros in the same period in 2019.
Zooplus assumes that its growth will continue in the forthcoming months. "It has been shown that pet supplies have become one of the most sought-after product groups in online retailing during the corona pandemic," emphasised Dr Cornelius Patt, CEO of the online retailer.