Pets at Home has issued an upbeat trading statement for its first quarter performance.
Total group revenue in the 16 weeks to July 20, 2023, was up 7.9% to £436.8m, with growth experienced on both a volume and value basis and with like-for-like revenue also up by 7.9%. In retail stores, sales revenue was by 7.1% on both an overall and a like-for-like basis, with the food category showing volume growth. Total consumer revenue, which includes revenue across the group including consumer sales made by joint venture vet practices grew by 10.2% to £568.2m.
The chain opened two new pet care centres with in-store JV vets during the quarter and completed nine refits as well as the rollout of new freezer space across the estate. Overall, Pets at Home Group now operates 458 stores.
The group maintains it is on target to achieve full-year profit in the range of £132m to £142m.
Chief executive officer Lyssa McGowan said: “Our performance in the first quarter has been encouraging. The quality of our growth has remained strong as we grew transaction volumes and continued to acquire new consumers at an impressive rate, as our compelling value, range and service continues to resonate with consumers.
“It has also been a quarter of steady delivery against our strategic plan we set out in May. We have expanded and enhanced our physical estate, made good progress in the development of our digital platform, and continued the transition to our new distribution facility, as we execute on our ambition to build the world’s best pet care platform.”
