Pets at Home boss says investment will continue as 350th store opens

THE boss of retailer Pets at Home says that while recent spell of hot weather has not been good news for sales, annual results this week will show growth.

Nick Wood, who took over from long-serving Pets CEO Matt Davies last year, spoke as the Handforth-based company opened its 350th store in Barnsley last week.

The milestone opening at Cortonwood is the first Pets at Home store with an in-store Vets for Pets surgery, following the company’s acquisition of the veterinary practices business in March this year for a reported £50m.

Pets at Home sees the addition of in-store vets’ practices and grooming parlours as an essential weapon to retain customers and making its stores a ‘destination’ rather than a place to go to buy the cheapest cat or dog food.

Mr Wood told TheBusinessDesk.com: “It’s all about giving our customers, who are above all pet lovers, everything they need and want. We offer pet insurance, free water testing for people with acquaria, free nutrition testing for dog and cat owners and micro-chipping.

“We are constantly looking at new services for our customers”, he added.

The new in-store vets surgeries – which will be added to every new store Pets at Home opens, when space allows – will mirror shop opening times, meaning that evening and Sunday appointments are available, which Mr Wood sees as another advantage to the private equity owned business.

He said the company was committed to further store openings at a rate of around 30 a year and at a cost of approximately £27m.

International roll-out is not on the agenda currently, and future store openings are most likely to be concentrated on the South East, he revealed.
 
“I think there is plenty of opportunities for growth in the UK with the vets practices, grooming and store roll-outs so we’ll look to maximise value from that.

“We are a national proposition and while there will be opportunities around the UK – Barnsley being an example – if I look at the concentration of population and the number of stores we have, then going forward it’s more likely that we would open more in the South East.”

The Cambridge-educated executive who was MD of Dixons and Regus before leading a turnaround at American Golf, said he still remains “very cautious” over prospects for consumer confidence.

Responding to the improvement in GDP figures he said: “The economy is still behind 2008 levels and I am not sure consumers have much more disposable income.”

He said the soaring temperatures had “tended to be bad” for sales as fewer people were visiting out-of-town retail parks, and instead relaxing at home or heading to the seaside.