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Canada  + Ontario  + Retail  |  March 5, 2024
Pet Valu plans to open 40-50 new stores across Canada in 2024.
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By: Monte Stewart

Pet Valu Expects to Open 40-50 New Stores in 2024

Pet Valu intends to launch 40-50 new stores across Canada in 2024, the company says.

“Looking into 2024, we plan to deliver another year of growth, further strengthening our leadership in the Canadian pet industry,” Richard Maltsbarger, Pet Valu’s president and CEO, said in a news release accompanying the company’s quarter report issued Tuesday.

Markham, Ont.-based Pet Valu said it opened 17 new stores in the fourth quarter of 2023.

The openings helped the pet food and supplies retailer boost its adjusted net income 25.6% to $39.1 million, or $0.54 per diluted share during the period. Revenue increased 7.8% to $286.9 million.

Pet Valu now has 783 stores across its network, which includes franchise locations.

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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