Pets at Home has seen consumer revenue grow by 6.9% to £1.9bn, and total group revenue up 5.2% to £1.5bn, as it celebrates an important milestone in the digitisation of the business with a new app and website.
The pet care retailer’s latest results did see a dip in profit, to £132mn down 3.2% YoY. It explained this was due to short-term availability issues as it transitioned to a new distribution centre and weaker performance of discretionary accessories.
Its new DC is now on stream, with all stores now served from a single site and availability at structurally higher levels. It plans to complete the transition of its online business in the coming year.
“FY24 has been a pivotal year for the business, having delivered some key building blocks of our platform for long term growth,” Lyssa McGowan, chief executive officer, Pets at Home.
“I am proud of the progress we have made in the year; we relaunched our brand, opened our new DC, built our new digital platform, made progress in our sustainability agenda, and enhanced our physical estate. The business has come together brilliantly to navigate any challenges faced this year, and we have delivered some key milestones of our strategy.
“Our medium-term strategy and financial framework is unchanged and, looking ahead, the fundamental strengths of the business position us well to deliver growth. We hold a leading position in a structurally growing market, with an unrivalled retail store network, and a unique, differentiated and integrated vet business. We know the nation’s pets better than anyone else, with over 10 years of analytical data on 10 million pets, and we now have a best-in-class digital platform, and a modern efficient DC.
“Above all else, we have the best colleagues in the industry, who use their passion and expertise to guide customers through their pet care journey every day. All of this positions us incredibly well as we continue to execute our strategy to build the world’s best pet care platform.”
Learn how Pets at Home new DC fits into their digitisation plans in an exclusive interview in the DeliveryX Warehousing 2024 report.
The report, available to pre-register for now, also includes interviews with B&Q discussing how its utilising its store network for fulfilment, while Furniturebox can guarantee an 8pm next-day delivery cut off for most the UK because of its facility.
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