07:38 AM EST, 03/05/2024 (MT Newswires) -- Pet Valu Holdings Ltd. ( PTVLF ) , a Canadian specialty retailer of pet food and pet-related supplies, on Tuesday reported its Q4 2023 results.

The company reported quarterly revenue of $287 million, compared with $266 million, last year.

Net income was $29 million, or $0.40 per diluted share, versus net income of $26 million, or $0.36 per diluted share, for Q4 2022.

Adjusted net income was $39.1 million, or $0.54 per adjusted diluted share, The comparable figures for the prior year were $31.1 million or $0.43 per adjusted diluted share.

System-wide sales were $379 million, a 5.1% increase YoY. Same-store sales growth was 1.9%, driven by same-store average spend per transaction growth.

The Board of Directors declared a dividend of $0.11 per common share.

For the full year 2024, Pet Valu ( PTVLF ) expects:

Revenue between $1.11 and $1.14 billion, supported by same-store sales growth of between 2% and 5%, 40 to 50 new store openings and higher wholesale merchandise sales penetration with Chico franchisees;

Adjusted net Income per diluted share between $1.57 and $1.63.