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Pets at Home investment pays off with 8.6% growth

Pets at Home has credited investment in its stores – three new shop openings, 24 refits, five vet extensions and two new veterinary practices – as well as a new distribution centre, for its recent growth across all channels.

The pet care retailer saw consumer revenues up 8.6%, ahead of its 7% ambition. Seasonal events has also helped Pets at Home, with Halloween trading up 18%. While, half-a-million Christmas dog toys and 200,000 advent calendars have already been sold.

Furthermore, its loyalty programme is another area it has reported growth. Active VIP members were up 3% to 7.8 million. Additionally, it recorded 18,000 new pet sign ups at its vet business each week.

Looking ahead, Pets at Home plans to introduce a new app and website in the New Year.

Lyssa McGowan, chief executive officer, Pets at Home, said: “H1 has been a critical period in laying the foundations of our platform for future growth. This was the period of high activity when we relaunched our brand, launched our new DC, built our new digital platform, and made progress expanding and improving our physical assets across Retail and Vets. This period has not been without challenges, but we have been able to manage these well and are on track to finish FY24 with a refreshed, modernised infrastructure, fit to deliver growth for many years to come.

“I am incredibly proud of how our colleagues across the business have come together using their expertise and ingenuity to navigate this demanding period. I was particularly proud to see this recognised as we were voted “Best Place to Work” in the WorkL awards. We remain absolutely committed to keeping Pets at Home an inclusive and rewarding place to work and made pleasing progress in H1 increasing diversity.

“As we stand today, through our point of peak investment, with the benefits of our new DC and new digital platform still ahead of us, we look to the future with confidence that we can deliver our plan, to build the world’s best pet care platform.”

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