Home Business News Pets At Home enjoys pandemic boost to sales

Pets At Home enjoys pandemic boost to sales

by LLB Editor
26th Feb 21 11:55 am

Pets At Home, which has 350 outlets across the UK, raised its profit forecast today as the pandemic boosted pet ownership in the country.

The company today said full-year profits will be £85m, up from a previous estimate of £77m.

Nicholas Hyett, analyst at stockbrokers Hargreaves Lansdown, said: “Pets at Home has added 10% to January’s full year profit guidance.

“The rapid improvement is evidence of just how strong recent trading has been, and the effect rolling lockdowns are having – both on pet ownership and our willingness to splash out on our furry friends.

“There is always a risk of course that newly acquired pets fall out of favour once lockdown comes to an end, but for now pet retail is in the jaws of a boom.”

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