Tuesday, October 17, 2017

Pets at Home posts rise in sales and profits

248

Pets at Home has recorded a rise in like-for-like sales and profits in its half-year report, boosted by growth from its services and online divisions.

The pet care retailer‘s group like-for-likes went up by 2.5 per cent in the 28 weeks to October 13, while its group revenue climbed 9.1 per cent to £441.3 million.

The company’s services division alone experienced a 47.6 per cent revenue growth and 8.7 per cent like-for-like growth in that same half-year period.

Pets at Home also opened eight new superstores in the first half, 17 vet practices and 18 grooming salons. 

Forty-nine per cent of its superstores now have both a vet practice and grooming salon.


READ MORE: Pure pedigree: Pets at Home profits from “resilient” pet market


“We have also seen robust trading in merchandise where health & hygiene sales returned to a more normalised level after a poor season last year,” Pets at Home chief executive Ian Kellett said.

“We are pleased that our investment in seamless shopping is delivering results with increased volumes, basket spend and the launch of our first subscription service.

“In a more difficult trading environment, we continue to build Pets at Home for the future and are confident in the long term outlook for our unique offer in the resilient pet market, in particular, the developing potential of our Services business as we see it mature and grow.” 

The retailer said that while its current trading period is softer than the first half, its outlook for 2017 remained in line with market expectations.

Click here to sign up to Retail Gazette’s free daily email newsletter