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LONDON (Alliance News) - Pets At Home Group PLC Wednesday reported a rise in revenue in the first quarter of its financial year and said its full-year outlook remains in line with market expectations.
The specialist retailer of pet food, accessories and pet-related products and services, said that total revenue grew 6.4% to GBP224.2 million in the 16 weeks to July 16 on the same period the year before, as like-for-like sales rose 1.7%.
Sales were driven by Advanced Nutrition, VIP Club, Services and Omnichannel, it said, although this was partially offset by a poor season for Health & Hygiene products and very hot weather in July.
"Our core strengths in Advanced Nutrition, vet and grooming services have continued to deliver in the first quarter, underpinned by our VIP loyalty club. We have been particularly pleased with such strong VIP membership signup and swipe rate of the card at tills. Following strong Health & Hygiene product performance in the prior year, we experienced a particularly challenging season this quarter, which alongside a short period of very hot weather in July, created a significant impact on group revenue performance," Chief Executive Nick Wood said in a statement.
"We expect new store and services openings to remain second-half weighted and are confident in our roll-out targets for the full year. Our full-year outlook remains in line with market expectations," he added.
Shares in Pets At Home were trading down 6.2% at 270.20 pence on Wednesday morning, one of the worst performers in the FTSE 250.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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