Pets at Home like-for-likes rise by 1.8% in first half
Pets at Home saw its like-for-like sales edge up 1.8% in the first half of its financial year driven by strength in its advanced nutrition category, VIP Club, services and omnichannel business.
In the 28 weeks to 8 October, merchandise like-for-like revenue grew by 1% while services like-for-like revenue climbed by 10.5%
Total revenue in the period rose by 6% to £404.5 million as the retailer opened six new superstores.
Nick Wood, Pets at Home chief executive, said: “We remain pleased with the growth of advanced nutrition, vet and grooming services during the first half of the financial year, supported by growing maturity in the VIP loyalty scheme.
“Whilst trading in parts of the business has been weaker than expected, the core strategic drivers are performing well and in order to support their growth, we continue to invest in our colleagues and seamless shopping experience.”
Pets at Home also opened two Barkers stores in Marlow and Ilkley in the first half as well as 10 Groom Room salons and 15 veterinary practices.
The retailer said it is on track deliver 20 to 25 Pets at Home stores, five Barkers, 50 to 55 veterinary practices and 55 to 60 grooming salons in the full year.
At the end of the period, total membership of the retailer’s VIP Club reached 3.9 million, which was an increase of over 300,000 from the first quarter.
Wood added: “As we highlighted previously, profit growth will be weighted to the second half, as the strong health & hygiene comparatives ease. Our full year profit outlook is broadly in line with market expectations.”
