Pets at Home, UK’s biggest pet care retailer, could record £319.4 million ($431.68M / €382.50M) out of sales in the last quarter of 2021. This is an increase of more than 28% in two years.
The company’s revenues rose by 5.8% from October to December although the company cautioned about an “inflationary pressure” in the supply chain.
“The UK pet care market remains robust, with strong continued growth in new pet owner customers, and prevailing customer themes of long-term pet ownership, humanization and premiumization, creating a sustainable tailwind for growth across our business,” the company said in a trading update.
Pets at Home acknowledged that the company could watch prices rising in the supply chain.
“While we are not immune to these challenges, we are proactively mitigating them through a series of planned initiatives targeting rent reductions, procurement savings and operational efficiencies across our business, and we continue to work closely with our supplier base to achieve the operational and purchasing synergies that enable us to maintain our competitive price index,” it said..
The company owns 455 stores all across the UK at the moment.
CEO Peter Pritchard stated that he is confident of strategic investments and initiatives to rise ist performance „underpin[ing] underpin sustainable, long-term and profitable growth.”
He just announced his resignation of his role by summer.
Also the Vet Group CEO Jane Balmain will retire by spring 2023, but “a search for her successor will commence shortly.”
The company expects to record a yearly profit of £2.3 billion (€2.7B / $3.06B) over the medium term in comparison to the £1.4bn achieved in 2020.