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Pets at Home Group (PETS): Retail turnaround plan

This situation live

PETS Pets at Home Group

£954m · 239.4p · +16% since the first step

26 Nov 2025 · Plan launched; four priorities set · −8% until the next step We have a firm grasp of the issues that are holding us back and are acting now to address them.

23 Dec 2025 · Permanent CEO named to lead turnaround · +6% until the next step is pleased to announce the appointment of James Bailey as Chief Executive Officer with effect from 30 March 2026.

28 Jan 2026 · Sequential Retail improvement; price cuts implemented · −14% until the next step I'm pleased to report continued strong performance in our Vet business and sequential improvement in Retail, as we continue to implement our Retail Turnaround Plan.

31 Mar 2026 · On track; price cuts and cost savings done · +9% until the next step Our 'Retail Turnaround Plan' is progressing and is on track across our 4 priority areas, Product, Price, Execution and Cost.

27 May 2026 · Progressing; sales and volumes improving, not complete · +8% until the next step The Retail Turnaround is not complete, we have much more to do, but we are encouraged by the progress seen to date across our four key focus areas and by the improvement in our sales growth and volume

30 Jul 2026 · Gaining traction; Q1 FY27 Retail sales up · +12% since The Retail Turnaround Plan continues to deliver with category resets on Dog Food, Cat Food and Treats all launched in Q1.

Turnaround plan with targets

Retail turnaround plan

Gaining traction; Q1 FY27 Retail sales up

NOV25 Next: Interim results announcement in 32 days

Every step · 6

26 Nov 2025 Plan launched; four priorities set – We have a firm grasp of the issues that are holding us back and are acting now to address them. ↗
23 Dec 2025 Permanent CEO named to lead turnaround – is pleased to announce the appointment of James Bailey as Chief Executive Officer with effect from 30 March 2026. ↗
28 Jan 2026 Sequential Retail improvement; price cuts implemented – I'm pleased to report continued strong performance in our Vet business and sequential improvement in Retail, as we continue to implement our Retail Turnaround Plan. ↗
31 Mar 2026 On track; price cuts and cost savings done – Our 'Retail Turnaround Plan' is progressing and is on track across our 4 priority areas, Product, Price, Execution and Cost. ↗
27 May 2026 Progressing; sales and volumes improving, not complete – The Retail Turnaround is not complete, we have much more to do, but we are encouraged by the progress seen to date across our four key focus areas and by... ↗
30 Jul 2026 Gaining traction; Q1 FY27 Retail sales up – The Retail Turnaround Plan continues to deliver with category resets on Dog Food, Cat Food and Treats all launched in Q1. ↗

What is happening

Pets at Home Group: Retail turnaround plan – Gaining traction; Q1 FY27 Retail sales up. ['Gaining traction; Q1 FY27 Retail sales up']

In short: 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.
Announced: 26 Nov 2025 · Plan launched; four priorities set
Latest: 30 Jul 2026 · Gaining traction; Q1 FY27 Retail sales up
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

What comes next

Interim results announcement (25 Nov 2026).

From the company's own announcements. Not investment advice.

Briefing Pro

New to Pets at Home Group? Get up to speed in 2 minutes.

What it does, how it got here, what management promised and delivered – written from its own announcements.

Get the PETS briefing →

Also at Pets at Home Group 2 open

Capital returnBuyback programme – proposed Project milestonesPets insurance launch – FCA approval achieved; building technology Legal & regulatoryCMA vets market review – Final decision issued; no adverse impact expected · closed Insider conviction1 director buying – £49k in 1 buy · closed Insider conviction1 director buying – £50k in 1 buy · closed Pets at Home Group – company page →

This situation live

PETS Pets at Home Group

£954m · 239.4p · +16% since the first step

26 Nov 2025 · Plan launched; four priorities set · −8% until the next step We have a firm grasp of the issues that are holding us back and are acting now to address them.

23 Dec 2025 · Permanent CEO named to lead turnaround · +6% until the next step is pleased to announce the appointment of James Bailey as Chief Executive Officer with effect from 30 March 2026.

28 Jan 2026 · Sequential Retail improvement; price cuts implemented · −14% until the next step I'm pleased to report continued strong performance in our Vet business and sequential improvement in Retail, as we continue to implement our Retail Turnaround Plan.

31 Mar 2026 · On track; price cuts and cost savings done · +9% until the next step Our 'Retail Turnaround Plan' is progressing and is on track across our 4 priority areas, Product, Price, Execution and Cost.

27 May 2026 · Progressing; sales and volumes improving, not complete · +8% until the next step The Retail Turnaround is not complete, we have much more to do, but we are encouraged by the progress seen to date across our four key focus areas and by the improvement in our sales growth and volume

30 Jul 2026 · Gaining traction; Q1 FY27 Retail sales up · +12% since The Retail Turnaround Plan continues to deliver with category resets on Dog Food, Cat Food and Treats all launched in Q1.

Turnaround plan with targets

Retail turnaround plan

Gaining traction; Q1 FY27 Retail sales up

NOV25 Next: Interim results announcement in 32 days

Every step · 6

26 Nov 2025 Plan launched; four priorities set – We have a firm grasp of the issues that are holding us back and are acting now to address them. ↗
23 Dec 2025 Permanent CEO named to lead turnaround – is pleased to announce the appointment of James Bailey as Chief Executive Officer with effect from 30 March 2026. ↗
28 Jan 2026 Sequential Retail improvement; price cuts implemented – I'm pleased to report continued strong performance in our Vet business and sequential improvement in Retail, as we continue to implement our Retail Turnaround Plan. ↗
31 Mar 2026 On track; price cuts and cost savings done – Our 'Retail Turnaround Plan' is progressing and is on track across our 4 priority areas, Product, Price, Execution and Cost. ↗
27 May 2026 Progressing; sales and volumes improving, not complete – The Retail Turnaround is not complete, we have much more to do, but we are encouraged by the progress seen to date across our four key focus areas and by... ↗
30 Jul 2026 Gaining traction; Q1 FY27 Retail sales up – The Retail Turnaround Plan continues to deliver with category resets on Dog Food, Cat Food and Treats all launched in Q1. ↗

Briefing Pro

New to Pets at Home Group? Get up to speed in 2 minutes.

What it does, how it got here, what management promised and delivered – written from its own announcements.

Get the PETS briefing →

Also at Pets at Home Group 2 open

Capital returnBuyback programme – proposed Project milestonesPets insurance launch – FCA approval achieved; building technology Legal & regulatoryCMA vets market review – Final decision issued; no adverse impact expected · closed Insider conviction1 director buying – £49k in 1 buy · closed Insider conviction1 director buying – £50k in 1 buy · closed Pets at Home Group – company page →