Customer loyalty initiatives are continuing to pay off for Pets at Home, according to its latest trading statement.
The Q1 trading statement, covering the 16-week period from April 1 to July 21 2022, compared to the period March 26–July 15, 2021, showed that the number of active customers in the group’s VIP scheme increased by 10.7% year-on-year to reach a record 7.4 million. More than a quarter (27%) of all VIPs shopped across more than one channel, up by 14%.
Sign-ups to the group’s Puppy and Kitten Club averaged 25,000 per week, a level three times higher than before the pandemic. Subscription plans grew 16% year on year to over 1.5 million, and now represents 8% of group customer revenue.
Retail revenue increased by 6.6% during the quarter (5.6% on a like-for-like basis), with store sales up by 4.3% (like for like) and omnichannel sales up by 13.5%. Total group revenue was up by 7.1% to £404.7m, including an increase in veterinary revenue of 11.2%.
The group maintains it is “proactively managing inflationary cost pressures through a planned series of productivity and efficiency initiatives” and anticipates full-year pre-tax profit to be within the expected range of £127m-£136m.
The trading statement is the first one since Lyssa McGowan took over the role of group chief executive officer.
She said: “Our performance has remained strong in the first quarter, underpinned by continued customer growth and high levels of retention. We operate a unique omnichannel model, in a market in structural growth, where the passion and expertise of our colleagues and partners is a key competitive advantage.
“I would like to thank them for their warm welcome and their continued efforts in helping our record number of customers care for their pets in these challenging times.”
