More people buying pets despite rising cost of living
Pets at Home hit 'record' sales during the pandemic
Last updated 26th Jan 2022
Retailer Pets at Home has hit record sales and profits during and after the height of the pandemic.
Bosses said sales hit £319.4 million in the 12 weeks to December 30, a jump of 5.8% on the same period a year ago.
The company said it had a "record Christmas" with strong growth in sales across its 445 UK stores and its 300 vet and grooming outlets.
Supply chain costs increasing
But the company warned that inflation pressures hitting the economy are starting to take hold, with supply chain costs increasing.
Pets at Home said:
"We, like many others, are witnessing a number of inflationary pressures across the supply chain. While we are not immune to these challenges, we are proactively mitigating them through a series of planned initiatives."
Though optimism remains
Despite the cost pressures, bosses are confident that underlying pre-tax profits will beat expectations.
Understood by the strong growth in Pets at Home's VIP loyalty scheme, up 13% year on year to seven million members, with more than one in four shopping across stores and online.
Also, it's puppy and kitten club membership levels jumped 60%, with 24,000 new members registering every week, and bosses pointing out that members typically spend a third more than non-members across the group.
Chief executive Peter Pritchard said:
"Our unique, omnichannel pet care strategy continues to deliver strong revenue growth, reflecting continued momentum in customer acquisition, engagement and spend as the benefits of our ongoing investment in capacity and capability really start to deliver."
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