Pets at Home sales soar as Britons turn to furry friends to help them through lockdown
A boom in pandemic pet ownership has helped Pets At Home to a sales surge.
The retailer is set to reveal the increase in revenue over the past six months, with investors hopeful that the chain will report strong continued demand in recent months after England entered lockdown.
Pets At Home will unveil its latest figures for the half-year to September in an update to shareholders on Tuesday, November 24.
Pets At Home is set to reveal the increase in revenue over the past six months, with investors hopeful that the chain will report strong continued demand in recent months
The retailer had seen sales dip at the start of the financial year after the pandemic hit footfall despite being allowed to keep its stores trading.
But it expects to record a profit of ‘around £73million’ for the current full-year despite significant costs related to the pandemic and digital investment.
Susannah Streeter, investment and markets analyst at Hargreaves Lansdown, said: ‘It’s not just survived but thrived during the Covid-19 crisis as new owners also lapped up the essential items to keep their pets fed, watered, healthy and entertained.’
It has been ‘helped by the fact it was classed as an essential retailer and was able to avoid lockdowns’, she said.