The British pet retailer Pets at Home could already record a 10.2% growth in consumer sales in the 3 months to 20 July 2023 which marks the first quarter of its FY 2024. In this period, the company reached £568.2 million ($721M/€658M) in sales.
The retailer claims both volume and value growth to contribute to this increase. While the vet division increased by 16.3 % because of a rising number of visits, retail segment grew by 7.1% though.
According to CEO Lyssa McGowan, these months have been “encouraging”, especially an “impressive” number of new customers was attracted. The VIP base increased by 4% to 7.7 million.
Regarding the retail sector, the company recognized the food volume growth in grocery as well as premium categories. The company states that developments in accessory categories “were consistent with previous quarters”.
In the period, the company could celebrate the opening of two in-store pet care centers as well as the rebuilding of 9 locations.
According to a recent announcement, the company’s care branch was renamed now operating under „Pets“. £2 million ($2.5M/€2.3M) were used to modernize veterinary and grooming services.
The company called the development of its digital platform a “continued progress”. The shift of its consumer app and website will probably be completed later this year as “key foundation” for upcoming growth.
The already realized projects of the quarter received “strong consumer uptake” according to Pets at Home.
Advertisement
