Pets At Home shares fall after ‘softer’ sales

Shares of Chesire-based Pets At Home, the retailer of pet food, pet accessories and veterinary and grooming services, fell about 6% after it said group revenue grew 4.4% to £203.7 million in the 12 weeks to January 5, but merchandise revenues were flat at £177.4 million.

The company’s stock fell to around 224p, giving it a current stock market value of just more than £1 billion.

The firm said strong growth in veterinary services was offset by more subdued trading across the merchandise business.

Ian Kellett.