Pets at Home posts modest growth, revenue drops despite rising volume

British pet retailer Pets at Home posted a 0.8% year-over-year (YoY) increase in group consumer revenue to £472 million ($623M/€576M) for the third quarter of fiscal year (FY) 2026, which ended 1 January 2026.

However, revenue fell by 1.1% YoY despite positive volume growth across food and accessories. For the first half of FY2026, the group also recorded a 2.3% YoY drop to £680 million ($898M/€830M) due to flat market performance. 

Pets at Home notes that investments in its relative price position improved segment performance. In addition, it says that online remains the fastest-growing channel, delivering “low teens growth throughout the quarter.”

Vet group segment

This revenue growth was supported by the vet group segment, which recorded a 5% YoY rise driven by higher average transaction values. According to the British pet retailer, further expansion in the vet segment is planned, including 10 new practices and 15 vet extensions in FY2026.

Subscription sales continued to show upward momentum, now representing 15% of the company’s consumer revenue, from 12.1% in 2025.

The group added that 5% of Pets Club members now have an Easy Repeat subscription, while more than 50% of vet clients have a Care Plan.

Customer health 

The flat results are a “better underlying indicator of our customer health than Pet Club members, which dropped 6.9% to 7.6 million in part due to a change in methodology, which has also had a corresponding positive impact on Average Consumer Value,” the group says. 

The latter have gone from £177 ($244.73/€204.50) in FY2025 to £193 ($266.85/€222.98) in FY2026, a 9% increase.

Regarding the methodology, in April 2025, the retailer changed how store staff could access Pet Club member records in their system, resulting in a reduction in lower-spending customers in their active member base. “Correspondingly, the number of non-Pets Club transactions have increased,” the company explains.

Guidance and leadership changes

For the full fiscal year, the retailer expects to deliver underlying Profit Before Tax in line with the current consensus of £93 million ($123M/€113M) with a range of £90 million ($119M/€110M) to £97 million ($128M/€118M).

The fiscal year will also close with a change at the top: James Bailey will take over as CEO on 30 March, with Ian Burke moving into the Non-Executive Chair role.

Pets at Home will also welcome Sarah Pollard as the new Chief Financial Officer designate on 23 March. Mike Iddon, the current CFO, will step down from the board on 27 March, when Pollard will succeed him as CFO and Executive Director.

“With a new CEO and CFO joining in spring, our focus for the remainder of the year is on building momentum behind our four turnaround plan priorities of Price, Product, Cost and Execution, to deliver our FY26 plan and to return our Retail business to sustainable sales and profit growth,” says Burke, who is currently serving as Interim Executive Chair.