Virus sees Pets at Home sales soar
Pets at Home has seen an exceptional level of demand in its stores as the Covid-19 crisis has developed.
The group, which has sites at Brierley Hill, Cannock, Kidderminster, Ludlow, Oldbury, Shrewsbury, Stafford, Telford and Wolverhampton, said underlying pre-tax profits for the year to March 26 would be slightly ahead of expectations at £93.7 million,
For most of its fourth quarter the group traded in line with market expectations, but in the closing weeks it experienced exceptional levels of demand, both in store and online.
It has seen existing customers increase average basket size by pulling forward purchases as well as new customers accessing pet products and healthcare services.
Pets at Home, which has been designated by the Government as an 'essential retailer', said disruption in Far East supply stabilised relatively quickly so product availability held up well.
Chief executive Peter Pritchard said that while the financial year had ended strongly for Pets At Home, the period ahead was uncertain.
"Pets At Home will not be immune to these challenges that we collectively face. I am extremely grateful that our colleagues and operations have shown such resilience and flexibility to meet the recent exceptional level of demand from both existing and new customers. As ever, in difficult times consumers turn to trusted brands and advice, and that is why we are working tirelessly to ensure that we continue to provide essential products and healthcare services for the UK's pets," he said.
It is providing support for communities through £1.1 million of funding to nominated pet charities, a £1m crisis fund for colleagues and discounts to NHS workers as they care for the nation's health.
"I would like to thank all our fantastic colleagues, partners and customers for their amazing support during this challenging period. Amidst an unprecedented backdrop, never has our role as a pet care provider been more important, and never have we been more determined to serve the nation's pet owners," added Mr Pritchard.
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