Pets at Home Group (PETS) Q1 2027 TU earnings summary

Executive summary

• Q1 FY27 consumer revenue rose 3.9% year-over-year to £614m, with both Retail and Vet Group segments contributing to growth.

• Retail Turnaround Plan initiatives drove broad-based sales and volume growth, with category resets and store investments launched.

• Retail customer satisfaction improved year-over-year, with gains in value for money, product availability, and order collection.

Financial highlights

• Total Group consumer revenue increased 3.9% year-over-year to £614m for the 16-week period ending 16 July 2026.

• Vet Group consumer revenue up 1.9% to £215m, outperforming the market.

• Retail consumer revenue up 4.9% to £399m, with volumes growing ahead of sales.

• Q1 growth benefited from a ~1% timing benefit due to the exit from a legacy insurance agreement.

Outlook and guidance

• Full year FY27 guidance is maintained, with management encouraged by the strong start and ongoing momentum.

• £50m share buyback program underway, with £25m expected to be completed by end of H1.