Pets at Home continues to grow
The UK retailer has grown by 22.2%, is relatively unaffected by supply chain issues and expects the most successful Christmas ever.
As strong growth in pet ownership continues, Pets at Home continues to benefit from it. But their growth isn’t only related to that.
The UK’s largest pet care retailer has seen membership numbers of its puppy and kitten club more than double. Members of this club typically spend a third more per year than non-members. Active VIP members rose 13% to 6.8 million.
Its veterinary business is also doing well, with 10,000 new client registrations per week.
The interim financial figures released show group underlying profit-before-tax growth of 77.2% to £70.2m.
Looking at the future, Pets at Home predicts to do £2.3 billion (€2.7b or $3.06) in revenue over the medium term.
Peter Pritchard, Group Chief Executive Officer shared:
“Our business has never been more robust. Our pet care strategy continues to deliver, we continue to take market share and improve spend per customer and the benefits of our investment in capacity and capability are really starting to deliver. Notwithstanding some near-term, industry-wide challenges, we continue to grow ahead of our plans and, based on trading year to date, we are on track to report a record year of sales and profit growth.”
Supply chain issues?
Pets at Home has managed the supply chain issues the world is dealing with well. For example, the vast majority of their product range is sourced domestically and is neither perishable nor seasonal.