Pets at Home breaks revenue records as Brits pamper their dogs and cats at Christmas
Pets at Home raised its full-year profit guidance after record revenue from its retail division in the third quarter, as customers continued to treat their pets despite a challenging economic environment.
Overall revenue was up 8.8% to £347.5 million for the three months to 5 January. Revenue from Pets at Home’s retail division was up by 8.0%, thanks in part to a record £8 million in a single day.
The company’s vets division — made up of the Companion Care and Vets4Pets brands — saw an 18.1% increase in revenue. As a result, the group now expects profit before tax for the full year to be “towards the upper end” of consensus estimates of between £126m and £136m, having previously expected profits in the middle of that range.
CEO Lyssa McGowan said a key reason for the growth was customers buying accessories for their pets in the lead-up to Christmas.
“We delivered a really pleasing Q3 with acceleration in sales momentum across the platform,” she said. “It was particularly…
