Pets at Home enjoyed retail revenue growth of 9.8% in the last quarter of the calendar year, including record sales of its seasonal ranges during the Christmas period.
In a trading statement covering the 12-week period from October 8 to December 30, 2021, the company announced that total group revenue grow by 5.8% to £319.4m, with like-for-like revenue up +8.7% compared to a similar period last year.
Like for like retail revenue was up by 9%, with store revenue up by 7.4% on the same basis. The company attributed the performance to a robust UK pet care market, with continued growth in new pet owners, and ongoing themes of long-term pet ownership, humanisation and premiumisation.
The number of active VIP loyalty club members increased by 13% year on year to reach seven million, an increase of 1.7million within two years. Online revenues grew by 16.7% during the period, and the group also opened two new pet care centres at Brighton and Guildford, taking the estate to 455 stores.
As a result of the successful quarter, the group has revised its profit forecasts upwards, predicting that the annual pre-tax profit will be at least £140m for the full year.
Peter Pritchard, Group Chief Executive Officer, commented: “Our unique, omnichannel pet care strategy continues to deliver strong revenue growth, reflecting continued momentum in customer acquisition, engagement and spend as the benefits of our ongoing investment in capacity and capability really start to deliver.
“We are firmly on track to report a record year of sales and profit growth, and I am incredibly grateful to all of our fantastic colleagues and partners across the group for their hard work and commitment to helping us become the best pet care business in the world.”
In November 2021, Pets at Home announced that Pritchard intends to step down from his role in the summer of 2022. Jane Balmain, Chief Operating Officer of the Vet Group, has also signalled her intention to retire from the business by spring 2023.
