Latest from Pets at Home: new pet care center, AI and share buyback program

Pets at Home recently opened its first ‘small format’ Pet Care Center, which is integrated with an in-store Vets for Pets clinic, using £1 million ($1.2M/€1.1M) in capital.

The new 7,750 sq. ft. concept store in Beckenham, Greater London, offers pet parents combined veterinary care with a “comprehensive” retail experience. Pet owners visiting the store can access services like vaccinations, routine check-ups and advanced medical treatments while shopping for pet supplies.

As CEO Lyssa McGowan recently shared, this launch is part of Pets at Home’s ongoing UK retail expansion strategy.

The company, which opened 5 new pet care centers this year, tells GlobalPETS that its ambition is to open 20 sites in the medium term.

Share buyback program

The Pets at Home Group has initiated the second phase of its £25 million ($32.4 M/€29.9M) share buyback program, designed to enhance shareholder value by reducing the number of outstanding shares.

This phase, valued at £12.5 million ($16.2 million/€14.9 million), is managed in collaboration with the British bank HSBC, which has been instructed to make independent trading decisions on the company’s behalf.

The buyback, scheduled to conclude by 27 March 2025, will decrease the company’s share capital. It aims to raise per-share value and underscore Pets at Home’s strong financial position.

The retailer issued a share buyback scheme with the same value earlier in the year to reduce its share capital and cope with lower-than-expected sales growth.

Leveraging artificial intelligence (AI)

The retailer announced it has become an early user of Microsoft’s Copilot Studio to streamline operations and boost revenue.

Pets at Home developed an AI agent to support the retailer’s profit protection team in compiling cases more efficiently and assessing profit and loss. This allows skilled staff to focus on in-depth analysis rather than data gathering.

The solution is also part of the company’s broader adoption of Microsoft technology, including fraud detection and scribing tools for clinical settings. The company aims to improve customer service and operational efficiency across its locations and e-commerce platform.

(Photo credit: Pets at Home)