Pet Retail Market and Valuation Outlook
Petz Projections
57
Margins: Gross Margin Development
The increase in Private Label penetration in line with the increase in bargaining power with suppliers will decrease COGS...
We see that COGS and SG&A will decrease in long-term...
...this is because these costs and expenditures will be driven by....
Main COGS & SG&A Assumptions
COGS & SG&A; [%]
COGS
SG&A
52.5%
37.5%
Short-Term
Long-Term
52.0%
37.0%
51.5%
51.0%
50.5%
50.0%
49.5%
Increase of Private Label Penetration
36.5%
Bargaining Power with Suppliers
36.0%
35.5%
Increase of Raw Material Cost
35.0%
34.5%
Digital Competition Growth
20' 21E 22E 23E 24E 25E 26E 27E
Overview | Promissing Industry | Assertive Hub-and-Spoke Strategy | Expansion to Outpace | Healthy and Solid Ecosystem | ESG | Valuation & Risks
Source: Team 7View entire presentation