UK's Pets at Home Group leads FTSE midcap losses on bleak outlook

Pets at Home

31/03/2025 13:28

** Shares of Pets at Home Group Plc PETSP.L fall as much as 16.2% to 198p, top pct loser on FTSE 250 .FTMC index

** The company expects its fiscal 2026 underlying pretax profit to plunge due to rising costs and subdued demand for pet accessories

** Sees underlying profit in its retail business to fall year-on-year in 2026

** "The combination of slower retail LFLs (like-for-likes) and external cost headwinds was increasingly looking a heavy burden for the business to carry into FY26 while still delivering growth" - Jefferies

** PETSP hits its lowest level since January 13

** Currently stock down 9.7%, trimming YTD gains to ~4%

(Reporting by Aby Jose Koilparambil in Bengaluru)

((abyjose.koilparambil@thomsonreuters.com))