Following today’s release of Pets at Home’s figures for the 16 weeks period to 17 July 2025; Emily Scott, Retail Analyst at GlobalData, a leading data and analytics company, offers her view: “Pets at Home’s Q1 FY2025/26 paints a familiar tale of split performance; with strong momentum in veterinary services contrasted by ongoing struggles in retail. Despite an increase in total consumer revenue (+0.4% to £591m), its retail division saw a 3.0% decline in like-for-like (l-f-l) sales, as consumers are opting to shop at the grocers for pet supplies due to their heightened convenience and price competitiveness.
“The retailer’s Vet Group continues to outperform, with a 7.1% rise in consumer revenue and 6.2% overall revenue growth, as Pets at Home is still capitalising on consumers spending on pet healthcare and the desire for subscription-based Care Plans. Pet owners are more likely to take their animals to the vets when they have access to care plans that minimise high one-off costs, making veterinary services more affordable and accessible. Such plans also guarantee Pets at Home continued custom and a more consistent revenue stream, helping to offset fluctuations in more discretionary spending. Its l-f-l sales rose a strong 7.8%, and the division continues to grow with two new openings and two extensions in Q1, with the retailer being on track to meet its target of 10 openings and 15 extensions in FY2025/26. Pets at Home is in a good position to sustain the momentum of its Vet Group; by making services more accessible.
“Against the success of its Vet Group, retail is caught in a cycle of promotions, price competition and weak volumes. Pets at Home must move beyond simply optimising cost and start being more innovative around product, loyalty and convenience. More focus on higher-margin categories (such as premium food and insurance) and bundling with vet offerings, such as by offering product discounts after a vet visit could help reinvigorate the division. By continuing to leverage its Club loyalty scheme (now with 8.1m members), and subscription models like Easy Repeat, Pets at Home has the foundations in place to get its retail division back to growth, however it must differentiate its retail offering to remain competitive.”
