REG - Pets at Home Grp - Board changes and profit downgrade

Pets at HomeAnnouncement

Today 08:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250918:nRSR8695Za&default-theme=true

RNS Number : 8695Z  Pets At Home Group Plc  18 September 2025

 

 

FOR IMMEDIATE RELEASE, 18 SEPTEMBER 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 ("EU MAR") AND ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN
THE UNITED KINGDOM (THE "UK") BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018 ("UK MAR").

Pets at Home Group Plc

Board changes and profit downgrade

Pets at Home Group Plc (Company) announces that Lyssa McGowan, CEO has left
the business with immediate effect.

A search has commenced for a permanent CEO.

Ian Burke, non-executive chair, has assumed the role of executive chair until
a permanent CEO has been recruited.

The board would like to thank Lyssa McGowan for her commitment to leading the
business since she became CEO of the business in 2022.

Pets at Home Group plc, also today provides an unscheduled trading update for
FY26 reflecting our updated views on Retail trading and lowering profit
guidance accordingly.

·     Our existing guidance assumed a central scenario for Retail of 1%
market growth against which we expected to return to market outperformance
through FY26 as the investments we made in digital bore fruit.

·     Through Q2, the underlying pet retail market has remained subdued,
declining slightly year to date.

·     Against this, we have seen the performance of the Retail business
improve sequentially, narrowing the gap to the market, but the rate of
improvement has been below expectations.

·     We continue to see double-digit digital sales growth,
outperforming the online retail market supported by our improved digital
platform and strong growth in Easy Repeat subscriptions.

·     In contrast, our store sales have proved more challenging,
declining 5% year to date.

·     Our Vet Group continues to deliver high-single digit sales growth.
We are on track to deliver our planned 10 new practices in FY26, alongside 15
vet extensions and another year of profit progress.

In light of the performance gap we have seen in Retail versus our plan, we now
expect FY26 underlying PBT in the range £90-100m.

 

Investor Relations Enquiries

Pets at Home Group Plc:
 

Andrew Porteous, Director of Investor Relations             +44
(0) 7740 361 849

Aaron Wood, Head of Investor Relations
 +44 (0) 7702 083 154

Media Enquiries

Pets at Home Group
Plc:

Natalie Cullington, Head of Communications
+44 (0) 7974 594 701

Citigate Dewe
Rogerson:

Angharad
Couch
   +44 (0) 7507 643 004

About Pets at Home

Pets at Home Group Plc is the UK's leading pet care business, providing pets
and their owners with the very best advice, products

and care. Pet products are available online or from over 450 pet care centres,
many of which also have vet practices and grooming

salons. The Group also operates a leading small animal veterinary business,
with over 440 veterinary general practices located both

in our pet care centres and in standalone locations. For more information
visit: https://www.petsathomeplc.com/

Disclaimer

This trading statement does not constitute an invitation to underwrite,
subscribe for, or otherwise acquire or dispose of any Pets at Home Group Plc
shares or other securities nor should it form the basis of or be relied on in
connection with any contract or commitment whatsoever. It does not constitute
a recommendation regarding any securities. Past performance, including the
price at which the Company's securities have been bought or sold in the past,
is no guide to future performance and persons needing advice should consult an
independent financial adviser. Certain statements in this trading statement
constitute forward-looking statements. Any statement in this document that is
not a statement of historical fact including, without limitation, those
regarding the Company's future plans and expectations, operations, financial
performance, financial condition and business is a forward-looking statement.
Such forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially. These risks and uncertainties
include, among other factors, changing economic, financial, business or other
market conditions. These and other factors could adversely affect the outcome
and financial effects of the plans and events described in this statement. As
a result, you are cautioned not to place reliance on such forward-looking
statements. Nothing in this statement should be construed as a profit
forecast.

 

This announcement contains information that is inside information for the
purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as
amended (the Market Abuse Regulation ("MAR")). Upon the publication of this
announcement, such information will no longer constitute inside information.
Andrew Porteous, the Company's Director of Investor Relations, is the person
responsible for making the notification for the purposes of Article 17 of MAR.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCLPMRTMTBBMIA