Pets at Home revenue up by a quarter
By Richard Wright | 29th July 2021
With the nation said to be in the grips of a puppy boom because of the lockdowns, Pets at Home reports a 25% increase in revenue for the first quarter.
The national pet goods retailer - with stores in Gloucester and Cirencester, and two stores in Cheltenham - made a first quarter profit of £377.8 million.
The Group reports a higher number of sales in-store and strong growth in its accessories sales, as well as a good sales performance from the Vet Group.
The UK pet care market is robust, with an increase in pet ownership. Retail revenue at the Group - in store and online - went up by 29.1%.
Peter Pritchard, Group Chief Executive Officer, said: "It is pleasing to note that many of the positive trends from our last financial year have accelerated in the current quarter.
"Key indicators point to continued growth in pet ownership, providing a supportive backdrop to long-term growth across the underlying market and our business, and we continue to see strong growth in new customers, subscription plans and veterinary clients.
"Our unique, omnichannel pet care strategy continues to deliver, with strong momentum across both sides of our business, as well as good progress against our strategic priorities, meaning we look to the future with much confidence."
There was continued growth across the Group's pet care range with Puppy and Kitten club members growing 167% year-on-year.
The Group is rolling out its 'Polestar' digital transformation programme, with teams of engineers and designers. Polestar aims to deliver customer value, starting with the development of a mobile customer app and a single customer login to enable easy access to all of its pet care services.
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