Pets at Home: Retailer Reveals Drop in Profits as It Cuts Prices
The retailer cut prices on around 1,000 products as its vet division grew 5% and management said the turnaround was making progress.
- On Wednesday, Pets at Home told shareholders that pre-tax profits slid 28.3% to £86.5 million for the 52 weeks to March 26, with total revenues slipping 0.8% to £1.47 billion.
- The retailer's retail division faced weaker profit margins linked to investment in pricing, as supermarkets with greater scale offered fierce discounts on pet food while consumers dialled back spending on toys and treats.
- In January, Pets at Home slashed prices on around 1,000 products to revive flagging fortunes, while its vet division posted 5% revenue growth year-on-year, proving resilient amid retail headwinds.
- Chief Executive James Bailey, who joined from Waitrose earlier this year, said "material progress" has been made over the past six months stabilising the retail business with improved satisfaction and availability.
- Investment director Russ Mould at AJ Bell said there "wasn't too much to get the market's tail wagging" in the results, though he expects Bailey to leverage the customer loyalty scheme as the vet division's regulatory cloud has dissipated.
13 Articles
13 Articles
The Independent
perspectivemedia.comPets at Home profits slide amid price cuts
But the new boss of the group said it has made ‘material progress’ in the retail arm’s turnaround plan over the past six months.
Pets at Home Group H2 Earnings Call Highlights
Pets at Home Group (LON:PETS) reported a weaker full-year profit performance for FY 2026 as underperformance in its retail division outweighed continued growth in its veterinary business, but management said early signs from its retail turnaround plan are encouraging. In the company’s full-year res
Pets At Home Reports Lower FY26 Profit, Slashes Dividend And Launches GBP 50 Million Buyback
Pets At Home Group Plc (PETS.L) reported lower profit for fiscal 2026, alongside slightly reduced revenues, a trimmed dividend, and a new share buyback program. The company announced a GBP 50 million share buyback, which is expected to be completed over the next 12 months. Profit before tax for the full year fell 28.3 percent to 86.5 million pounds, compared to 120.6 million pounds in the prior year. Earnings per share dropped to 13.6 pence from…
Pets at Home shares rocket despite huge drop in profits
Pets at Home has seen its shares rise 8% in trading today (writing at 2.50pm) despite reporting a big drop in profits in its latest annual results. In the Cheshire-based company’s first full-year results announcement since the departure of former CEO Lyssa McGowan in September 2025, revenue fell 0.8% and remains just under £1.5 billion. However profit before tax was £86.5m, representing a 28.3% drop. Pets at Home’s retail business was down 1% to…
Pets at Home adapts to life after pet-buying boom
As the generation of millions of lockdown pets across the country begins to celebrate their fifth and sixth birthdays, Pets at Home faces a challenge. Embarking on its turnaround – led by former Waitrose boss James Bailey – the FTSE 250 retailer can no longer rely on the boost offered by the spike in pet buying that came with the Covid-19 pandemic. Pets at Home runs a retail arm of pet products as well as a veterinary services business and saw…
Coverage Details
Bias Distribution
- 60% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
