StockMarketWire.com - Popular high street store, Pets at home, has said it expects its underlying pre-tax profit for the full year to be slightly above the top end of the range of current market expectations.

For most of the fourth quarter, the group traded in line with market expectations. In the closing weeks of the financial year, however, it experienced exceptional levels of demand, both in-store and online, as the COVID-19 crisis developed.

Existing customers increased their average basket size by pulling forward purchases, while new customers accessed pet products and healthcare services, the company said.

The group added that its previous investments in omnichannel capacity, new customer acquisition channels and subscription services had equipped it to meet above-trend levels of demand and, with disruption in Far East supply stabilising relatively quickly, the product availability held up well.

The group currently plans to announce its final results on Thursday, 21 May 2020, although this date will be confirmed in due course.


At 8:01am: [LON:PETS] Pets AT Home Group PLC share price was +7.5p at 247.5p



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