Pets at Home share price rises as sales rise 4.2 per cent
A scratch behind the ears and a doggy biscuit for newly-listed Pets at Home, which today reported a 4.2 per cent rise in first-half sales, pushing its shares up almost three per cent in mid-morning trading.
The company, which listed in March, said total group revenues rose 10.2 per cent to £381.5m in the six months to 9 October, while like-for-like revenues grew 15.5 per cent.
The retailer added its loyalty scheme, "VIP Club", added 600,000 new members during the period, pushing its total up to 2.6m. It also opened 10 new stores, 26 veterinary practices and 23 "Groom Rooms".
Nick Wood, Pets at Home's chief executive, said the company was "very pleased" with the growth.
Our VIP Club continues to be a strong contributor to this growth, alongside both our new and existing veterinary practices and Groom Room salons.
This positive momentum across the business gives us further confidence in our ability to deliver on our expectations for the full financial year.