THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Major Pets at Home investor reduces shares

One of the largest investors in Pets at Home has substantially reduced its stake by half. Jupiter Fund Management, which holds its shares on behalf of… View Article

HOME & DIY

Major Pets at Home investor reduces shares

One of the largest investors in Pets at Home has substantially reduced its stake by half.

Jupiter Fund Management, which holds its shares on behalf of Northern Trust, Citigroup and BNP Paribas, has cut its stake in the listed company from 9.8% to 4.7%, according to new documents filed with the London Stock Exchange.

Before the move, the firm was the second largest institutional shareholder in the pet loving retailer, behind Schroder Investment Management. It is now also behind JPMorgan Asset Management and Nordea Bank SA.

Pets at Home recently revealed that the boom during the pandemic continued to provide it with strong growth during its latest financial period and that its profits are likely to be ahead of expectations. The company did however  warn that inflation pressures hitting the economy are starting to take hold, with supply chain costs increasing.

The group’s sales hit £319.4m in the 12 weeks to December 30, a jump of 8.7% on the same period a year ago.

Its retail business enjoyed particularly strong growth during the run-up to Christmas, up 9.8% as customers turned to more premium brands to pamper their pets. The company’s vet business saw sales up 4%.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News