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Sales slow at Pets at Home

Slowing underlying growth at Pets at Home has hit the share price.
November 3, 2015

A second update, a second drop in the share price. After a disappointing first quarter, Pets at Home (PETS) saw its shares tumble 12 per cent in the two days following its first-half trading update. The retailer reported like-for-like sales growth of just 1.8 per cent in the period, down from 4.2 per cent this time last year.

IC TIP: Buy at 281p

Trends across the business are similar to those seen at the start of the year: strong performances from the advanced nutrition, VIP Club, services and omnichannel divisions were somewhat offset by weak health and hygiene product sales.