"Financial year 2024 has been a pivotal year for the business, having delivered some key building blocks of our platform for long term growth,” says Lyssa McGowan, chief executive officer of the leading British pet retailer Pets at Home.
Total revenue of the retail group grew by 5.2 per cent to GBP1.5 bn (1.76 bn euros) in the period under review, with group like-for-like (LFL) revenue up 5.1 per cent. Vet Group revenue grew by 16.8 per cent, and LFL went up 16.5 per cent, with record sales supported by higher average transaction value, mix and visits as clinical capacity increased.
Retail revenue grew by 4.0 per cent, and LFL went up 4.1 per cent. Q4 LFL was in line with expectations, with continued volume growth and slowing inflation in food, and softer performance within accessories, explains the retailer.
Pets at Home had five new openings of pet care centres in fiscal 2024 and 41 store refits. The retailer also opened three new veterinary practices, had 26 practice extensions and 10 company-owned to conversions, supported by further progress on veterinary talent.
Pets at Home emphasises the success of its subscription model, comprising 1.7 mio subscriptions, now generating 10 per cent of consumer revenues. “The launch of our digital platform will offer customers an enhanced subscriptions capability with improved choice and flexibility.”
