Strong growth in UK pet care sales, a loyal customer base, an expanding store portfolio, the integration of pet services into its retail model and a growing online presence are the main factors driving growth for the UK pet superstore chain, Pets at Home.
Pet superstores now account for 9% of UK pet care
In March 2014, Pets at Home suffered a rather lacklustre initial public offering amid concerns that it was overpriced. A year later, it has produced an impressive set of trading figures and its shares have risen above their flotation price. According to the company, merchandise revenues rose at an annual rate of 8%, to £666 million (US$1,049 million), during the 12 months to March 2015. The number of Pets at Home retail outlets grew by 25, to 400, during the 12 months to March 2015. Largely due to the chain’s growth, the proportion of UK pet care value sales accounted for by pet superstores rose by 160 basis points between 2009 and 2014, to 9%.