Pets At Home Group Plc (LON:PETS) has announced its Q1 FY27 Trading Statement for the 16-week period to 16 July 2026
Financial Highlights
· Total Group consumer revenue1 up 3.9% to £614m.
o Vet Group consumer revenue up 1.9% to £215m, growth remains ahead of the market, with sales in line with expectations. Growth underpinned by strong Care Plan performance and sign-ups alongside higher average transaction values.
o Retail consumer revenue up 4.9% to £399m. Q1 performance saw our business win market share, with momentum being underpinned by Retail Turnaround Plan initiatives. Sales growth is broad based with volumes comfortably growing ahead of sales. Q1 growth also benefited from a c1% timing benefit as we exited our legacy PetPlan insurance agreement.
Business Highlights
· The Retail Turnaround Plan continues to deliver with category resets on Dog Food, Cat Food and Treats all launched in Q1. This is alongside the launch of a comprehensive investment program refreshing our store estate.
· Retail customer satisfaction is higher YoY as we maintain a continued focus on improving execution. We saw strong improvements in value for money, product availability and ease of instore order collection.
· Active Pets Club members of 7.0m remains impacted by methodology changes7 in the prior year; total Retail transactions grew 2% in the quarter, continuing to underpin strong volume growth.
Current trading and outlook
· We make no change to FY27 guidance.
· We are encouraged by the start we have made in FY27 and the broad based Retail momentum and share gains delivered set us up well for the remainder of the year where we will be lapping a more stable Retail performance
· Our £50m share buyback program is progressing with £25m to be complete by the end of H1.
James Bailey, Chief Executive Officer:
“We have made an encouraging start to FY27, trading in line with expectations and clear further signs that our Retail Turnaround Plan is gaining traction. Retail saw stronger momentum, with all categories delivering sales and volume growth, while our Vet Group continued to grow ahead of the market.
We remain focused on delivering better value, stronger execution and more convenient pet care for customers, while building a more resilient and profitable business.”
Key Performance Indicators2
| Strategic KPIs | FY27 Q1 | FY26 Q1 | YoY |
| Number of active Pets Club members3 (m) | 7.0 | 8.1 | -13.6% |
| Average Consumer Value4 (£) | 210 | 180 | 16.7% |
| % of Consumer Revenue from Subscription5 (%) | 15.3% | 14.5% | 5.5% |
| Clinical FTE Headcount6 (k) | 3.7 | 3.5 | 4.0% |
1. Consumer revenue includes total revenue across the Group including consumer sales made by Joint Venture vet practices, and therefore differs to the fee income recognised within Vet Group statutory revenue.
2. KPIs represent those used by the business to monitor performance. Management recognise that as Alternative Performance Measures they differ to statutory metrics, but believe they represent the most appropriate KPIs.
3. Active Pets Club members are retained consumers who transacted across the group in the last 365 days prior to the end of the reporting period for both the current and prior year.
4. Average consumer value (ACV) is the average spend of active Pets Club members across the group over the last 365 days based on consumer revenue.
5. Subscription revenue includes our Flea & Worm, Easy Repeat, Complete Care and Vac4Life plans and is divided by Group consumer revenue.
6. Full time equivalent number of all vets and nurses working across the group, based on standard working hours.
7. In Q1 FY26 we implemented a change in how store colleagues are able to look up Pet Club member records in our till system. This resulted in a reduction in lower spending customers in our active Pets Club members base. Correspondingly, the number of non-Pets Club transactions increased.
Our next scheduled update will be our interim results announcement on 25 November 2026.
