PETS AT HOME SALES JUMP TO £1bn RECORD IN LOCKDOWN

PETS At Home sales have topped £1bn for the first time after a pandemic pet ownership boom.

The company said group revenues jumped by 7.9pc to a record £1.14bn for the year to March 25.

The retailer said it was buoyed by an increase in new pet owners, with the UK’s pet population rising by ‘an estimated 8pc in the 12 months following the first lockdown’. Sales of products for puppies jumped by 26pc, while kitten products surged by 37pc.

The firm added that underlying pretax profits for the year dipped by 6.4pc year on year to £87.5m after it was weighed down by £30m in ‘Covidrelated revenue restrictions and costs’. The group also returned £28.9m worth of business rates relief to the Government.

Pets at Home also plans to invest around £70m over the current financial year, pumping money into its store transformation programme, digital growth and a new national distribution site.

Chief executive Peter Pritchard said: ‘This has been the most extraordinary period in my 35 years in retail.’