Pets at Home has upped its profit guidance for the second time in under two months, hailing continued strong trading in the fourth quarter of its current financial year.
In a trading update to the City this morning, the retailer upped its profit guidance for the end of the current financial year to £85m, ahead of the previous £77m guidance issued with its Christmas trading update on January 8.
The retailer said its performance over the last eight weeks had been “ahead of expectations, with continued strong and broad-based growth across all channels and categories”.
Pets at Home said the speed of the vaccine rollout in the UK “reduces the level of uncertainty ahead” for the business but “our priority remains to safeguard the health, safety and wellbeing of all of our colleagues, partners and customers”.
The specialist pet chain is due to update the City on its full financial year results on May 27.
The latest upgrade comes after the retailer reported a strong set of Christmas results. Like-for-like sales grew in the “high teens” during December with gains made across all of its channels.
It said at the time that the social distancing and safety measures it introduced in its stores meant it remained “in a strong position” going into 2021.
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