Pets at Home comfortable on essential retailer denomination as it posts 18% sales surge
Pets at Home Group PLC (LON:PETS) posted an 18% surge in quarterly sales after it was allowed to trade during lockdown as an essential retailer.
Total group revenue jumped 18% to GBP302mln in the 12 weeks to December 31, with retail and veterinary services both up 18% and the omnichannel, which comprises online and order-in-store service, up 71%.
READ: Pets at Home raises profit expectations after strong quarter
Pets at Home has been looking to provide a more flexible offer, such as the launch of a one-hour Click and Collect service across the 451-strong store estate, and a “Deliver to Car” service across more than 150 stores, while it has opened two smaller stores in central London to decide whether to make a wider rollout.
As announced earlier this month, the pet products retailer estimates full-year underlying pre-tax profit, including the previously announced repayment of business rates relief of GBP28.9mln, to be at least GBP77mln from GBP99mln a year ago.
Total liquidity at the end of the third quarter was GBP391mln, including cash and banking facilities.
The FTSE 250 group posted growth in its customer programmes, with VIP members rising 12% to 6.2mln and Puppy and Kitten Club members up 47% to an unspecified figure, though Pets said they spend around 25% than non-members.
The firm also provides subscription services, such as a Vet Group health plan, or omnichannel subscription platforms Easy Repeat and Subscribe & Save, which have reached 1mln customers annually adding GBP85mln in recurring sales.