Pets at Home has reported ‘softer’ trading than in the first half of the year.
It also reported that the business may be affected by the “prolonged uncertainty over the UK’s exit terms from the European Union, and the continued weakness in Sterling.”
In a statement the company said Brexit “could lead to a slowdown in the UK economy and consequent loss of consumer confidence, impacting trading conditions for the Group.”
Shares in Pets at Home have also seen a decline by 3.94 percent as of 4pm in London.
Ian Kellett, group chief executive officer, is focusing on the positives though, commenting: “We have again demonstrated strong performance in Services, with 47.6 percent revenue growth. We have also seen robust trading in merchandise where health and hygiene sales returned to a more normalised level after a poor season last year.
“We are pleased that our investment in seamless shopping is delivering results with increased volumes, basket spend and the launch of our first subscription service.
“In a more difficult trading environment, we continue to build Pets at Home for the future and are confident in the long term outlook for our unique offer in the resilient pet market, in particular, the developing potential of our Services business as we see it mature and grow.”