Pets at Home announces CEO exit and profit downgrade
Pets at Home has announced that its chief executive Lyssa McGowan has left the business as it downgraded its profit expectations.
Having commenced a search for her successor, the retailer said Ian Burke, non-executive chair, has assumed the role of executive chair until the recruitment process is complete.
Subscribe to TRBMcGowan joined the business from Sky in 2022.
In a statement, Pets at Home said: “The board would like to thank Lyssa McGowan for her commitment to leading the business since she became CEO of the business in 2022.”
Pets at Home also announced that it was lowering its full year profit guidance partly due to a subdued pet retail market.
It added: “Against this, we have seen the performance of the retail business improve sequentially, narrowing the gap to the market, but the rate of improvement has been below expectations.
“We continue to see double-digit digital sales growth, outperforming the online retail market supported by our improved digital platform and strong growth in Easy Repeat subscriptions.
“In contrast, our store sales have proved more challenging, declining 5% year to date.”
Pets at Home said its vet group is continuing to deliver high-single digit sales growth and is on track open ten new practices the current financial year,
The retailer now expects FY26 underlying to be in the range £90 million to £100 million.
