Pets at Home profits will beat guidance, but cautions on year to come

Peter Pritchard RWLive 2019

Pets at Home will post earnings just ahead of expectations for the financial year just ended but sales in the next year are likely to be hit by the coronavirus pandemic.

Pets at Home, designated an ‘essential’ retailer during the outbreak and therefore able to keep shops open, reported in a post-close update that it traded in line with expectations during the final quarter of the financial year. The retailer said in the closing weeks, demand was “exceptional” in-store and online as the coronavirus emergency unfolded.

Existing customers increased their average basket size by pulling forward purchases and the retailer drew in new shoppers seeking its products and services.

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