Pets at Home has seen its first quarter revenues grow 25.7% to £377.8m as the retailer continues to witness a “strong sales momentum”.
In the 16 weeks to 25 July, the retailer saw like-for-like revenue up 30.2%, or 29.4% on a two-year basis, which it said reflected “continued strong growth across both retail and veterinary operations”.
Retail revenue growth was up 29.1%, with Pets at Home citing “good growth” across both food and accessories and instore and online, despite the reopening of nonessential retail and hospitality sectors during the quarter.
Furthermore, the number of subscription plans offered in store grew 24% on a year-to-year basis, generating over £100m in “annualised recurring customer sales”.
Based on the trading to date, the group said it now anticipates that full-year group underlying pre-tax profit will be £130m, representing a 49% increase to £42.5m on the prior year.
Peter Pritchard, group chief executive officer at Pets at Home, said: “It is pleasing to note that many of the positive trends from our last financial year have accelerated in the current quarter.
“Key indicators point to continued growth in pet ownership, providing a supportive backdrop to long-term growth across the underlying market and our business, and we continue to see strong growth in new customers, subscription plans and veterinary clients.”
He added: “I remain incredibly grateful to all our colleagues and partners across the group for their continuous hard work and excellent customer service.
“Our unique, omnichannel pet care strategy continues to deliver, with strong momentum across both sides of our business, as well as good progress against our strategic priorities, meaning we look to the future with much confidence.”