Pets at Home rides the “baby boom” wave
Pets at Home revealed half-year results last week. Group sales grew 5.1% to £574.4m but profits fell by the same percentage to £39.6m.
“There is much to be proud of over the last six months and much to look forward to in equal measure. As we continue our transformational journey, there remains plenty to strive for and achieve, and we will remain both focused and agile in our determination to succeed, says CEO Peter Pritchard”.
Many reasons to be optimistic
˃ Pet market remains resilient with recent change to working norms supporting rising levels of pet ownership – good proxy for future growth
˃ Our focus on customer acquisition is underpinning market share gains across all channels
‒ Nationwide store estate combining a wide range of competitively- priced branded and own label products with economically-resilient services
‒ Growing our online share of the pet care market, matching customer preference for convenience with fast and frictionless execution
‒ Strong growth in our VIP and Puppy and Kitten clubs
˃ Customer-centric pet care platform, underpinned by the UK’s most extensive proprietary pet dataset and true omnichannel capability
‒ Clear opportunity to use data to drive engagement, wallet share and lifetime value across our 6.0m (and growing) VIP customers
‒ Increasing base of loyal subscription customers raising the visibility, resilience and quality of our sales profile
˃ Introducing new ways to engage, serve and fulfil our customers making pet care as affordable, convenient, engaging and flexible as possible
˃ We will continue to make the right investments to prioritise growth opportunities across our customer-centric pet care platform
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