Pets at Home Dials Down Profit Forecasts Amid Sluggish Retail Growth
What the Numbers Say
- Revenue rise: Group sales climbed 4.3% YoY in the 12‑week period ending 4 January.
- Like‑for‑Like (LFL) growth: Retail arm saw modest LFL increase, falling short of expectations.
- Vet side 13.4% jump: Veterinary practice revenues surged, showing the strength of the animal care segment.
- Profit forecast: The firm now projects pre‑tax earnings around £132 million for the year.
CEO Lyssa McGowan on the Mixed Bag
“During peak season, our team pulled together to achieve a record sales performance—outpacing a very strong last year. However, the market slowed right before peak, so our growth didn’t hit the targets we had set,” Lyssa said, adding a dash of reality to what could have been a headline‑making story.
“We’re still in a good spot for long‑term gains.” She continued, “The veterinary side keeps giving us room to win new customers and grow volumes across pet food, all while offering a distinct, premium service through our vets network.”
Digital No‑Pain Strategy
Lyssa highlighted the company’s new digital platform, describing it as an “essential springboard for our growth plan.” In plain terms: the site offers a smoother experience for shoppers and opens doors to cross‑sell accessories, making it easier to capture more of each pet owner’s wallet.
“With these foundations intact, we’re poised for the future,” Lyssa assured investors.
What’s Next for Pets at Home?
- Continue building the online experience.
- Leverage the veterinary arm to drive repeat business.
- Focus on increasing market share where volumes matter most.
Though the retail side hit a brief lull, the company’s balanced approach and digital ambition should keep it on a steady upward trajectory—albeit with a slightly more conservative outlook.
