31 Jul 2025
Bosses say wider consumer prospects remain ‘uncertain’ with retail revenues falling as their veterinary equivalents rise
Allister Webb
Job Title
The pet retail market remains “subdued” and “uncertain”, despite continuing growth in veterinary revenues, according to Pets at Home Group bosses.
The message was delivered in a trading update issued today, 31 July, for the first quarter of the 2025-2026 financial year.
The company reported veterinary revenues were up by 6.2%, with a like-for-like increase of 7.8% which it said was linked to strong growth and the conversion of company-owned practices to joint venture operations.
The update added that two new practices, plus two extension projects, had been completed during the quarter and the group was on target to complete 10 openings and 15 extensions overall during the year.
But year-on-year retail revenues were down by 3% and the company has amended its forecast for market growth to around 1% this year.
However, the group stressed that all its other guidance was unchanged and it expects profits to be in line with those seen in previous years.
Chief executive Lyssa McGowan said: “We are pleased to have seen momentum in our business build through Q1, against a subdued market backdrop and uncertain consumer environment.
“Progress has been made across all four of our strategic metrics in the quarter, including growing our subscription revenues by over 40%, growing Pets Club members, increasing average spend and continuing to grow our vet talent as we continue building the world’s best pet care platform.”
The group expects to publish its interim results in late November.
