Pets at Home has said that sustained strong sales growth in its current financial year mean that it now expects profits to exceed market expectations despite wider economic uncertainty.
The pet care specialist, which reported in July that it has registered sales growth across all areas of its business in the final eight weeks of its first quarter, that strong sales momentum has continued since that time.
The retailer said that it has delivered double digit like-for-like growth across the eight weeks to September 10, with strong momentum across both its retail and veterinary divisions recorded.
Pets at Home has attributed this sustained sales growth to several factors including the “inherent resilience” of the pet care market, adapting its operations to account for changes in customer behaviour and preferences during the pandemic and its ongoing investment in its omnichannel operations.
A statement from the business said: “Although COVID-19 continues to create a number of material uncertainties around the trading environment, including the risk of a second lockdown, based on trading year to date, and as a consequence of the sustained strength in performance we have seen, we now expect full-year underlying pre-tax profit to be ahead of current market expectations.”
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