Pets at Home says performance in line with expectations as it works through turnaround plan
Pets at Home has reported a third quarter performance in line with expectations with group consumer revenue edging up 0.8% to £472 million.
The news follows the group’s launch of a turnaround plan for its retail business last November.
Subscribe to TRBIn the 12 weeks to 1 January, vet group consumer revenue rose by 5% following growth in average transaction values and the division’s Care Plan offering,
However, retail consumer revenue declined by 1.1%, which was an improvement on the previous period, after the retailer invested in its relative price position. Online was the fastest growing channel, delivering low teens growth throughout the quarter.
Meanwhile, total group statutory revenue dropped by 1% to £358 million as group like-for-like revenue fell by 0.7%
Ian Burke, Pets at Home interim executive chair, said: “I’m pleased to report continued strong performance in our vet business and sequential improvement in retail, as we continue to implement our retail turnaround plan.
“ One of our key early actions as part of this plan included investing in our customer offer, reducing the price of over 1,000 products by an average of 12%, ensuring our customers know they can trust us to provide great value for them and their pets.”
Looking ahead, Pets at Home expects to report full year underlying pre-tax profit in line with current consensus at £93 million, within a range of £90 million to £97 million. The company also said that retail customer satisfaction remains high, driven by improvements in value, colleague service, and product availability.
Burke added: “With a new CEO and CFO joining in spring, our focus for the remainder of the year is on building momentum behind our four turnaround plan priorities of price, product, cost and execution, to deliver our FY26 plan and to return our Retail business to sustainable sales and profit growth.”
