Online Sales Surge Amidst Pandemic-Driven Pet Care Demand
- Pets at Home Group reports a 5.8% revenue growth in the 12 weeks ending December 30, 2021
- Online sales grew by 99.3% from pre-Covid levels and saw a ‘record’ sell-through of seasonal ranges
- Full year profit forecast upped to £140m for FY22
- Like-for-like revenues increased by 8.7%, retail revenues jumped 9.8%
- Store revenues grew 7.4% year-on-year, vet group revenues up 4% from 2019
- Strong growth in pet care plan subscriptions with over 1.4m plans generating £115m in annualized revenue
- CEO Peter Pritchard credits omnichannel strategy and investments for the success
The Pets at Home Group has reported a 5.8% increase in total group revenues for the 12 weeks ending December 30, 2021, with online sales growing by 99.3% from pre-Covid levels and record sell-through of seasonal ranges. The company has raised its full-year profit forecast to £140m for FY22. Like-for-like revenues increased by 8.7%, retail revenues rose 9.8%, and store revenues grew 7.4% year-on-year, with a 23.3% increase from 2019. The group’s vet division also saw growth of 4%. Pets at Home attributes the success to its omnichannel strategy and ongoing investments in capacity and capability. CEO Peter Pritchard expressed gratitude to employees and confidence in sustainable, long-term growth.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Pets at Home Group’s financial performance, including revenue growth, profit forecasts, online and retail revenues, and the increase in pet care plan subscriptions. It also includes a quote from the group CEO that supports the positive outlook for the company.
Noise Level: 2
Noise Justification: The article provides relevant information about Pets at Home Group’s financial performance and growth in various categories. It includes specific numbers and percentages to support its claims, and quotes from the CEO that offer insight into their strategy and confidence in future growth. The content is focused on the topic without diving into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: Pets at Home Group’s stock price and related pet care industry stocks may be impacted by the reported financial results.
Financial Rating Justification: The article discusses the financial performance of Pets at Home Group, including revenue growth, profit forecasts, and the impact of their omnichannel strategy. This information is relevant to investors and could potentially affect the stock prices of the company and other pet care industry stocks.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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