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Friday 15 January, 2010

Pets At Home Group

January Trading Update

RNS Number : 6129F
Pets At Home Group Limited
15 January 2010
 

To be released outside the United States only. Not for distribution directly or indirectly in or into AustraliaCanada or Japan.



FURTHER STRONG GROWTH IN CHALLENGING CONDITIONS

6.7% LFL growth on top of 10.4% LFL growth last year


15 January 2010


Pets at Home, the UK's leading specialist retailer of pet foods, pet-related products and accessories, 
today reports on trading for the 
six weeks to 7 January 2010, and for the financial year to date. 


Financial Highlights:

For the six weeks to 7 January 2010:

  • Like for like sales were up 6.7% compared to the same period last year. This builds on the 10.4% like for like growth over the same period last year  


For the financial year to date, representing the 41 weeks to 7 January 2010:

  • Like for like sales are up 9.8%
  • Total sales are up 16.5%


Matt Davies, Chief Executive of Pets at Home, commented

"Our performance has been very strong all year and I am pleased that despite the bad weather of the past few weeks, we were also able to deliver a good sales performance over the Christmas period, demonstrating the resilience of our business. I am particularly pleased that this sales growth has been accompanied by further improvements in our margin.


"The re-launch of our transactional website at the beginning of November has dramatically improved our online presence and is a major step towards becoming a truly multi-channel retailer. Online sales are growing ahead of our expectations. 


"While the environment remains challenging for all retailers, our resilience during the year, our strong store opening programme and pipeline of innovative new products give us confidence for the remainder of the year and beyond.


"As previously announced, we have begun a dual-track process to examine the options for either a potential IPO or a sale of the company to a private equity buyer. We will provide an update when we have made a decision on which track we will pursue."


Seasonal Highlights:

  • 1.4 million Christmas presents were bought from Pets at Home this year

  • The unusually cold winter has led to a rise in sales of products to keep pets warm, from rabbit hutch covers to dog coats. We have sold 70 per cent more dog coats than last year

  • We have sold over a thousand tonnes of wild bird food 



Enquiries:

Maitland              020 7379 5151

Brian Hudspith 

Tom Roberts


About Pets at Home:


Pets at Home is the UK's leading specialist retailer of pet food, pet-related products and accessories;
it also sells fish and small animals. The business was established in 1991 and currently operates from 252 stores, totalling 2.2m sq ft. with 4,700 colleagues. 


In addition to the retail outlets, Pets at Home currently operates 54 veterinary surgeries on a joint venture basis under the brand name Companion Care. 


In the 52 weeks to March 2009 the company achieved turnover of £404.2m and EBITDA of £70m.  


Pets at Home was the subject of a Bridgepoint-backed buyout in July 2004.


www.petsathome.com



These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act") or an exemption therefrom. The Company has not and does not intend to register any securities under the Securities Act and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person in the United States is being solicited and, if sent in respect to the information contained in these written materials, will not be accepted.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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