Pets at Home on track for ‘record’ full year sales and profit growth
Pets at Home has said it is on track to achieve a record year for sales and profit growth after it increased its total revenue by 5.8% to £319.4 million in the run-up to Christmas.
In addition, like-for-like sales climbed by 8.7% or 28.1% on a two-year basis.
In its third quarter ending 31 December, the company increased its retail revenue by 9.8% as like-for-like store sales rose by 7.4% following a record sell-through of seasonal ranges.
Meanwhile, omnichannel revenue growth came in at 16.7% year-on-year or 99.3% compared to the same period two years ago.
Pets at Home’s veterinary business also put in a strong performance with like-for-like revenue growth of 4% or 23.3% on a two-year basis.
During the period, the company opened new shops in Brighton and Guildford to take its total estate to 455 stores. In addition, the number VIP loyalty club members climbed by 13% year-on-year to seven million.
Peter Pritchard, Pets at Home group chief executive, said: “Our unique, omnichannel pet care strategy continues to deliver strong revenue growth, reflecting continued momentum in customer acquisition, engagement and spend as the benefits of our ongoing investment in capacity and capability really start to deliver.
“We are firmly on track to report a record year of sales and profit growth, and I am incredibly grateful to all of our fantastic colleagues and partners across the group for their hard work and commitment to helping us become the best pet care business in the world.”
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