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    Pets at Home reports double-digit growth

    Simon KingBy Simon KingMay 27, 2022Updated:May 31, 2022No Comments2 Mins Read
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    Pets at Home boosted sales by 15.3% in the last financial year, according to the group’s preliminary results for the 53-week period to March 31, 2022, which showed that turnover grew to reach £1.3 billion, with retail revenue increasing 18.5% to £1.2bn.

    Within that figure, store sales were up by 17.7% along with 18.4% annual growth in the retailer’s omnichannel business. Pre-tax profits jumped from £77.4 million in 2021 (52 weeks) to £130.1m 2022 (53 weeks), an increase of 63.3%.

    Pets at Home reported growth across all key product categories both in-store and online, and was able to both recruit new customers and increase average spend. An additional 1.2 million new puppy and kitten customers shopped with the chain during the year, an increase of 36%, while the number of active members of the group’s VIP scheme increased by 18% to 7.3 million.

    The number of pet care plan subscriptions across the group grew by 23% to 1.5m year-on-year, generating over £120m in annualised recurring customer revenue.

    Outgoing group chief executive officer Peter Pritchard described the pet care market as remaining “robust and in growth”.

    Mr Pritchard said: “Despite another period characterised by significant and evolving external challenges, our performance this year has been noteworthy, delivering record sales, profit, and cash flow. I would like to express my heartfelt thanks to our truly inspiring colleagues and partners across the Group for their continued adaptability and commitment to making Pets at Home bigger, stronger, and more efficient.

    “We are well placed to accelerate our growth in market share. The robust backdrop of the UK pet care market, coupled with our clear strategic priorities, proven omnichannel model and strong executive team, mean that I hand over leadership of this great business to Lyssa McGowan [who is to take up her role on June 1] with the utmost confidence that Pets at Home will continue to create value for all stakeholders in both the near and longer-term.”

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