Coronavirus winner: Pet shop chain reports 'exceptional' level of demand

Pets At Home expects its annual profit haul to beat stock market expectations after an “exceptional” level of demand driven by the coronavirus outbreak.

Pets at Home is one of the best known names in the retail sector.

The pet store business, which has been classed as an essential retailer and continues to trade during the lockdown, said in-store and online sales have increased in recent weeks. Full-year underlying profits are likely to be slightly ahead of expectations.

The firm said existing customers have bought more products per visit while new customers have accessed its pet products and healthcare services. Nevertheless, boss Peter Pritchard warned that the retailer will “not be immune” to challenges caused by the virus.

He said: “While [the financial year] has undoubtedly ended strongly for Pets At Home during this unprecedented time, the period ahead is uncertain for us all, and Pets At Home will not be immune to these challenges that we collectively face.

“I am extremely grateful that our colleagues and operations have shown such resilience and flexibility to meet the recent exceptional level of demand from both existing and new customers. As ever, in difficult times consumers turn to trusted brands and advice, and that is why we are working tirelessly to ensure that we continue to provide essential products and healthcare services for the UK's pets.

He added: “The health and safety of our colleagues, partners, suppliers, customers and pets remains our top priority. We continue to take all appropriate action in line with government advice and remain vigilant to the potential impact of Covid-19 as we start the new financial year.

“We are also providing support for the communities that need us through £1.1 million of funding to nominated pet charities, a £1m crisis fund for colleagues and discounts to NHS workers as they care for the nation's health.”