Pets At Home's Performance Hurt by Softer Retail Market -- Market Talk

Dow Jones

2024/11/27

0831 GMT - Pets at Home's 1H update flagged a subdued U.K. pet market, which is particularly hurting its retail business, RBC Capital Markets analysts Manjari Dhar and Richard Chamberlain say in a note. The U.K. pet-care company is expecting lower market growth to persist into the second half and now guides pretax profit to grow only modestly, they highlight. The analysts add that retail sales and operating profit came in below expectations, while veterinary sales and operating profit were slightly ahead of market consensus and RBC's expectations. Shares are down 7.7% and down nearly 20% since the start of 2024. (michael.susin@wsj.com)

(END) Dow Jones Newswires

November 27, 2024 03:32 ET (08:32 GMT)

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