Home Business NewsBusiness Pets at Home enjoys bumper trading

Pets at Home enjoys bumper trading

by LLB Editor
31st Jan 23 10:51 am

We weren’t just treating ourselves over Christmas it seems – our furry friends also benefited from surprisingly resilient spending judging by the latest update from specialist retailer Pets at Home.

“The company was boosted by a big increase in the UK’s pet population during lockdown and unlike other pandemic fads this involved along-term commitment on the part of owners.

AJ Bell’s Russ Mould said: “Pets at Home benefited from this trend in three main ways. First through people buying food, treats, bedding and toys for their animals; second as people look to keep their furry friends clean and tidy at its in-store grooming salons; and third by providing veterinary services.

“The valuation of the business previously got ahead of itself, leaving the shares vulnerable to cost of living concerns. However, this is anation of animal lovers and while some of the little extras people splashed out on for their pets might fall by the wayside after Christmas, spending on the essentials is likely to hold up. This is bolstered by the company’s growing footprint in the vet market and by smart use of loyalty schemes.

“The strong trading shows Lyssa McGowan is doing a good job of stepping into some big shoes to fill in the form of her predecessor Peter Pritchard who led a successful turnaround of the business.

“She still needs to navigate inflationary pressures and stay ahead of the game when it comes to fighting off competition from non-specialists like the supermarkets, but she’s undoubtedly off to a good start.”

Leave a Comment

You may also like


Sign up to our daily news alerts

[ms-form id=1]