Pets at Home is “taking action at pace” to address retail performance, the group stated in its FY26 interim results.
Retail sales for the 28-week period to October 9, 2025, fell by 2.3% to £679.9m, although the retailer reported “sequentially improved” Q2 performance compared to Q1 due to a full quarter of strong online performance partially offsetting weaker store sales. Food sales declined 0.3% with accessories sales falling 5.9%.
The veterinary side of the business continued to flourish in relative terms, with revenue up 6.7% and pre-tax profit up by 8.3% during the period. Overall, group statutory pre-tax profit of £36.2m was down by 29.1% year-on-year, with the interim dividend per share of 4.7p unchanged from last year.
The group has initiated a retail turnaround plan focused on product, price, execution and cost after a review identified some key failings within the retail division of the business.
The retailer stated that it has been “over-exposed to legacy ranges” in the food segment, limiting its ability to capitalise on growth in the premium advanced nutrition sector, while accessories sales have been in decline at the retailer for more than three years by not having “the right products at the right price points”. As a result, the company has launched a plan to reset and revitalise its advanced nutrition ranges, while adding buying and merchandising capabilities to its accessories team.
Pets at Home also admitted that its in-store execution “has not been good enough” and will focus on implementing simplified strategies and better forward planning.
The retail business has been additionally impacted by the disruption of two major infrastructure projects, reported the company, namely the move to a single fulfilment centre at Stafford and the development of a new digital platform. The implementation of these projects was “more complex than we originally envisaged, leading to extra costs in some areas and execution issues that have led to lost and dissatisfied customers”. The retailer said that it will simplify the business going forward, reducing overheads by £20m.
The search for a new chief executive continues, following the exit of Lyssa McGowan earlier this year.
Interim executive chair Ian Burke said: “Stepping into the role as Interim CEO 10 weeks ago, I set out with a clear agenda – to establish a firm grip on the issues facing our retail business, whilst maintaining the positive results we’re seeing in areas such as vets. For over 30 years, Pets at Home has been a business with a clear purpose, an established market and loyal customer base, but it’s clear that urgent and necessary action is needed to return the retail business to growth to meet both our own expectations and those of our investors.
“I’ve spent time visiting over 100 Pet Care Centres and engaging with colleagues at all levels of the business to establish where the challenges are isolated, resulting in the implementation of a retail turnaround plan with four clear priorities of Product, Price, Execution and Cost. We are returning to our retailing roots to stabilise and rebuild momentum in our retail business, and to lay the foundations for a new CEO in due course.
“At the heart of our business remains 17,000 trusted and passionate colleagues and vet partners, and it’s through them that we will deliver future growth. I am grateful to them all for their unwavering dedication and energy and together we’ll ensure the business can thrive again.”
