Pets at Home reports strong Q3 figures

Pets at Home Group has today announced a scheduled trading update for the 12-week period from October 12, 2018 to January 2, 2019.

The retailer reported that sales grew 6.3% in the period to £237.2 million, with retail sales up 5.5% to £213.4m, including omnichannel sales up 41.5% to £19m.

Pets at Home reported that group like-for-like sales growth of 5.1% and retail like-for-like sales growth of 4.7%.

Peter Pritchard, Pets at Home’s group chief executive, said the UK pet care market remains resilient and the strength of the retailer’s proposition means it continues to take share in the retail (in-store and online) and vet markets.

He added: “Momentum in retail accelerated over the festive period, culminating in the biggest trading day of our entire history on the Saturday before Christmas. Our omnichannel business delivered exceptional performance, benefitting from investments made earlier in the year, including a new mobile website.

“This resulted in 4.7% like-for-like growth in retail, an impressive 11% growth on a two-year basis. In such a challenging climate, this performance was only made possible through the hard work of our colleagues across the business.”

As Brexit approaches, Pets at Home said that it may consider increasing its stock holding by up to £8m.

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