- Q4 LFLs up 3.2%
- Expects full-year pre-tax profits to be in line with expectations
- Full-year group sales up 6.7% to £777.8m
- Revenue from services jumps 29% to £81.3m
Pets at Home has reported a 3.2% rise in fourth-quarter like-for-likes and said it expects full-year profits to meet expectations.
The retailer, which appointed a new chief executive last month, said it believes full-year pre-tax earnings will match market forecasts of between £93m and £97m.
Like-for-likes in the 52 weeks to March 24 rose 2.2%, Pets at Home said. Group full-year sales climbed 6.7% to £777.8m.
Chief executive Ian Kellett, who replaced Nick Wood as boss, said the group is “pleased with the continued positive sales momentum in [its] merchandise business and [has] seen excellent performance in both [its] vet practices and grooming salons”.
Pets at Home has been trialling new concepts, including dog-only store Barkers and convenience concept Whiskers N Paws. Six Barkers stores are now trading, as is one Whiskers N Paws, in Dorking, Surrey.
Twenty new Pets at Home superstores opened in the group’s financial year. It now trades from a total of 427 stores, up from 400 last year.
The retailer has also been increasing its service offer and opened 50 vet practices and 60 grooming salons, in the period, with the majority in store. It now has a total of 388 vet practices and 240 grooming rooms.
Full-year revenue from services rose 29.2% to £81.3m.
Pets at Home last month reversed its decision to appoint Graeme Jenkins as its new finance boss, following an investigation into his former employer, Target. Pets said the decision was made by “mutual agreement”.