Pets at Home Group
PETS · Main Market · Retail · mcap £954m · 239.4p 3 open situations →
Open · 3
Retail turnaround plan
The Retail turnaround began after a weak H1 FY26, with Retail underlying PBT down 57.8% for FY26. Q1 FY27 Retail consumer revenue rose 4.9% with volumes ahead of sales and market share gains. Category resets and a store refresh are under way. Part of the growth is a c1% timing benefit from exiting PetPlan.
- Retail revenue
- Consumer revenue up 4.9% to £399m in the 16 weeks to 16 July 2026
- Volumes
- Total Retail transactions grew 2%; volumes comfortably ahead of sales
- Category resets
- Dog Food, Cat Food and Treats resets launched in Q1
- Timing benefit
- c1% of Q1 growth from exiting the legacy PetPlan insurance agreement
- Guidance
- No change to FY27 guidance
- Next milestone
- Interim results on 25 November 2026
Next: Interim results announcement · 25 Nov 2026
- 30 Jul 2026 Gaining traction; Q1 FY27 Retail sales up
- 27 May 2026 Progressing; sales and volumes improving, not complete
- 31 Mar 2026 On track; price cuts and cost savings done
- 28 Jan 2026 Sequential Retail improvement; price cuts implemented
Buyback programme
The dividend was rebased to a 50% payout on 31 March 2026, with the saving redirected to buybacks and total returns unchanged. The £50m buyback started on 24 June via Deutsche Bank, with shares cancelled. The company now says the first £25m will be complete by the end of H1.
- Size
- £50m buyback in two tranches
- First tranche
- Up to £25m via Deutsche Bank AG; 24 June to on or before 9 October 2026
- Purpose
- Reduce share capital; purchased shares will be cancelled
- Conditions
- Continuation beyond the 9 July 2026 AGM conditional on renewal of the authority
- Maximum shares
- 44,828,459 shares
- Next milestone
- Second tranche details to be announced in due course
Next: Complete £25m first tranche by end of H1
- 24 Jun 2026 announced
Pets insurance launch
Next: Insurance launch
- 27 May 2026 FCA approval achieved; building technology
- 26 Nov 2025 Building platform; progressing toward regulatory approval
Closed · 4
Company filings. Not investment advice.