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Pets at home are still top dogs, as animal lovers spoil their furry friends with expensive treats and food
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Animal lovers brush off the rising cost of living to buy premium food and treats for their pets.
Pets at Home said owners are increasingly treating cats and dogs “like members of the family,” spending money on Christmas presents and turning to more expensive treats and food.
The pet shop’s boss, Lyssa McGowan, said as pressure on incomes intensifies, “people continue to prioritize their pets.”
Spoiled: Pets at Home said owners are increasingly treating cats and dogs “like members of the family,” spending money on Christmas presents and turning to more expensive treats and food
Surveys have shown that spending on pets is one of the last areas where people break out of the cost-of-living crisis, which McGowan says “has proven to be the case.”
But despite the huge food sales in the six months to mid-October, pet owners are cutting back on accessories like dog toys and fashion.
The retailer said sales were up 7.3 percent from a year earlier to £727 million.
But as it struggled with rising energy and shipping costs, Pets at Home’s profit fell 9.3 percent to £59.2 million.
It kept its full-year profit forecast at £131 million, and shares fell 5.1 per cent, or 15.4 pence, to 288.6 pence as it warned headwinds would continue.