Pets at Home reports higher sales because of Covid

 

Pets at Home. Image in public domain.

UK - NEWS AND VIEWS: The Times reports that the pet products chain, Pets at Home, has reported higher sales because customers continue to splash out on cats and dogs that they bought during the Covid-19 pandemic and this applies despite the squeeze on incomes because of continuing inflation.

This is a reference to the fact that during Covid-19 a lot of people bought cats and dogs, mainly dogs, as companions during that long period of furlough when people were stuck at home, driven, you could argue, to adopting a companion animal to keep them company. They also have the extra time on their hands to go for long walks with their newly acquired dog!

And now of course these people need to purchase pet products for their newly acquired pet. The fact that they are spending money on their pets despite a squeeze on their income indicates that there is still a little bit of fat in the system in terms of family budgeting or they are prioritising the health and welfare of their companion animal over other expenditure.

The group reports that group revenue at the pet-care retailer, which also offers veterinary services rose 7.9% year-on-year to £436 million in the three months to July 20. Veterinary and retail sales rose by 16.3 and 7.1% respectively.

The group believes that they are acquiring new customers at an 'impressive rate' according to the chief executive.