“We’ll be able to interact more times over the course of the year, which increases our lifetime value with our customers and creates more stickiness,” he said.
Jeanette Loeb, CEO of PetCareRx, said in a statement released by PetMeds that “joining forces with PetMeds will enable a more holistic pet wellness experience with greater resources and scale.”PetMeds expects the acquisition will accelerate its revenue growth above the industry average. which is forecast to be 15% annually.
When that partnership was announced in April, 2022, Hulett said it was part of his strategy to unlock growth and position PetMeds as a pet health expert beyond filling prescriptions.For most of its life it has been a low-growth, but high-dividend yield company, with stable revenue and loyal returning customers.“We’re a small cap, profitable ecommerce company. There’s not many of those in the world,” Hulett said....
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