Analysts round on Pets at Home as vet restructuring squeezes margins
Several analysts have expressed disappointment over the retailer's latest results, however, the outlook for the firm may not be as gloomy as the numbers suggest
Company
Pets at Home Group PLC
LON:PETS
Pets at Home offers the ultimate pet shop experience. It really is a paradise for pets and pet owners. We have all the pet supplies, pet food, toys and accessories you and your pet need at great value prices. All our store colleagues are fully trained in pet care and dedicated to the welfare of your animals, with most of them being experienced pet owners themselves. So whether you are a new owner or an expert, our store colleagues are on hand to help you make the right choices. We also have a fantastic range of free, informative care leaflets for you to take away, offering help and advice on how to look after your pet.
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Pets at Home profits fall on weaker margins as it looks to close vet practices to offset cost pressures
“Since becoming the group CEO in May, I have had the opportunity to take stock of the wider group and shape my view of our future,” said Peter Pritchard
Investments and investor services
FTSE 100 closes in the red as Brexit and trade worries dampen the mood
Footsie closed the day down around 19 points at 7,016, with big miners in the losers list.
Builders and building materials
Kier Group investors gained small victory following post-results rise for the City’s most-shorted stock
According to data published by Castellain Capital, the ‘shorters’ started building their positions in January, which, coincidentally, was the month debt-laden construction group Carillion was liquidated
Pets at Home shares gain as it reveals two executive appointments, recovering after Goldman downgrade
The group said it has appointed David Robinson as chief operating officer of Retail, and named Jane Balmain as interim chief executive officer of the Vet Group's First Opinion business
Investments and investor services
FTSE 100 closes firmly ahead as it puts dismal October to rest
The FTSE 100 closed up around 92 points at 7,182. FTSE 250 also gained..
Whitbread faces pressure to prove merits of Premier Inn as standalone business
“Whitbread investors may miss the caffeine highs Costa serves up," Hargreaves Lansdown said of the group's decision to sell the coffee chain to Coca-Cola
Liberum Capital ups stance for Pets at Homes to ‘hold’ from ‘sell’ as it thinks the “risk/reward profile may have shifted”
Liberum’s analysts pointed out that the firm reported a fourth consecutive quarter of like-for-like sales growth of more than 5% and although full-year forecasts remain unchanged, they think this raises questions around whether earnings hav
Pets at Home shares surge as price cuts and instore vets boost revenues
Pets and Home left its full year guidance unchanged
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Markets
Pets at Home Group shares fall as profits tumble despite revenue rise
The FTSE 250-pet and animal care retailer saw its pre-tax profits drop 17% to £79.6mln, while like-for-like revenues rose 5.5%, from 1.5% growth in 2016
Next, M&S, Pets at Home and B&M slump on Citigroup downgrade
Citi said investors should buy online over bricks and mortar retailers and European over UK stocks
Deltex Medical slides after issuing shares at 1.25p a pop
A look at some of the day's big movers, such as Altyn, Thor Mining, N Brown, and Pets at Home
Pets at Home sees third quarter like-for-like revenue growth of 7.2%, says all financial guidance unchanged
In a trading update, the FTSE 250-listed firm said group revenue grew by 9.6% to £223.3mln, with Merchandise revenue up 9.0% to £193.4mln, and Services revenue growth of 13.6% to £29.9mln
Investments and investor services
FTSE 100 finishes higher but miners weigh
The pound is down 0.21% against the Euro and off 0.04% against the US dollar at the time of writing
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Consolidation and improving market conditions to lift trading at discount airline easyJet
Day ahead includes trading updates from easyJet PLC, Cairn Energy PLC, Marston's PLC, Pets at Home PLC, plus interim results from IG Group PLC
Pets at Home CEO Ian Kellett steps down as company reports first half profit decline
Peter Pritchard will take over the reins as chief executive next year