Member Article

Growth plans for Pets At Home after strong quarter

Cheshire-based Pets At Home, the retailer and vet services provider, has reported an upbeat trading statement.

Shares were up after the group announced it was on course to expand the business through new openings following a strong first-quarter.

The company saw like-for-like (LFL) sales growth of 4.1% in the period, while its joint venture veterinary practices saw LFL revenue growth of 18.3%.

Total group revenue was up 10.4% to £210.8mln, helped by 10 new shops opening during the period.

Pets at Home operates from 386 UK stores as well as almost 300 small animal veterinary surgeries and nearly 150 groom rooms.

The company has plans to grow to over 500 UK stores, more than 700 veterinary practices and in excess of 300 groom rooms in the medium term. It aims to open at least 25 stores, 60 vet practices 50 new grooming salons in its current financial year.

Nick Wood, the company’s CEO, said: “Our differentiated offering in the pet retail market, an increasingly seamless approach to omni-channel, and growing customer participation and engagement in our VIP loyalty programme continues to drive strong returns.

“Looking ahead, we will continue to seize opportunities to grow and develop Pets at Home and focus on the delivery of our strategy.

“Given the strong first quarter performance, we remain confident in our expectations for the full financial year”.

This was posted in Bdaily's Members' News section by Simon Malia .