Pets at Home Group PLC (OTCPK:PAHGF)
$ 2.935 0 (0%) Market Cap: 1.18 Bil Enterprise Value: 1.66 Bil PE Ratio: 10.92 PB Ratio: 0.98 GF Score: 81/100
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Q3 2024 Pets at Home Group PLC Trading Statement Call Transcript

Jan 30, 2024 / 09:30AM GMT
Release Date Price: $3.71 (-11.66%)
Lyssa McGowan
Pets at Home Group Plc - CEO

Good morning, everyone, and thank you for joining us for our Q3 update call. I'm Lyssa McGowan, CEO, and I'm here with Mike Iddon, our CFO.

As you'll have seen from the release this morning, we delivered a resilient Q3 performance over what was a tough trading period and lapping a very strong performance in the prior year. A 3.7% like-for-like in retail was one that most businesses would be very pleased with, but against our own very high standards and expectations, we did fall a little short in a period of muted consumer demand, as you have heard elsewhere.

Our food business remains in a great position. We're winning share and growing volumes, with any slowing down due to inflation dropping away a little during the quarter. Accessories growth remained soft though, as we lapped the toughest of last year's comparative. We've seen this trend through much of this year, and getting this part of the business back into growth is a key area of focus for us going forward. This slower-than-expected growth in retail means we now expect to fall slightly

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