Big rise in sales for pet retailer
By Sarah Wood | 31st January 2023
Pets at Home has upgraded its profits outlook, after a rise in third quarter sales.
The pet retailer, which has stores in Cheltenham, Gloucester and Cirencester, posted a like-for-like sales increase of 8.3% in the 12 weeks to January 5, as reported by Retail Gazette.
Pets at Home had a record day of trading on December 23, with sales topping £8 million, supported by strong performance of the Christmas range.
The retailer said momentum has continued into the current quarter, meaning its annual profits are likely to be higher than previously predicted, at around £136m - a £5m increase on its previous guidance of £131m.
The company's vet business grew its revenue by 18% in the same period and now has more than 1.7 million clients, with an average of 8,000 new registrations per week.
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