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Pets at Home holds 'modest growth' profit guidance

Management points to sturdiness of gross margin and 'effectively-managed' costs
Pets at Home holds 'modest growth' profit guidance Published on January 28, 2025

Shares in Pets at Home (PETS) rose by 5 per cent despite a rough third quarter, with like-for-like sales dropping by 2 per cent.

Retail sales (which made up 90 per cent of last year’s total) fell by 2.4 per cent, or 2.8 per cent on a same-store basis, with the company reporting “a more challenging UK consumer backdrop” that dragged down visits to stores from October onwards. Its digital performance improved, though, with more customers signing up for subscription services for repeat pet food deliveries.

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