Personally, I feel as though GXL's retail business will be...

Personally, I feel as though GXL's retail business will be extremely hard hit by Amazon (perhaps more than Wesfarmers' cheaper brands). Their vets should continue to move along but might feel strain.

Pet supplies in general are something that Amazon can stick in their warehouse and people can order - they're typically not needed instantly so people are prepared to wait a bit. They don't perish or become outdated (in general) and so Amazon doesn't have to worry about clearing them rapidly - obviously they'll try to as it's a high volume business.

In addition macro factors like Urban Consolidation and smaller households are meaning that less people really want pets (again a simplification).

Whilst this downtrend may be unjustified, there will be changing tides for GXL.