Pets at Home Group PLC (LSE:PETS) has left its full-year guidance unchanged following revenue growth in the first quarter.
Like-for-like revenue growth in the 16 weeks to 21 July 2022 was up 6% for the pet supplies retailer compared to the first quarter last year, “reflecting broad-based growth throughout the quarter”.
The retailer added that all its channels, including store and omnichannel, remain in growth, with “new customers and strong retention” of existing customers.
As a result of its performance in the first three months, Pets at Home kept its full-year sales and margin outlook unchanged, with underlying pre-tax profit within the range of £127mln and £136mln.
This, according to a statement, was in part down to “good sales to profit conversion”, with the group proactively managing inflationary cost pressures.
"Our performance has remained strong in the first quarter, underpinned by continued customer growth and high levels of retention,” said chief executive Lyssa McGowan.
“We operate a unique omnichannel model, in a market in structural growth, where the passion and expertise of our colleagues and partners is a key competitive advantage.”