Pets at Home Group (PETS) Q3 2026 TU earnings summary

Executive summary

• Group consumer revenue rose 0.8% to £472m for Q3 FY26, with Vet Group revenue up 5.0% and Retail revenue down 1.1%.

• Online channel delivered low teens growth, remaining the fastest growing segment.

• Retail consumer satisfaction increased by 3 points year-over-year, driven by value for money and service improvements.

• Subscription sales grew strongly, now representing 15.0% of consumer revenues.

Financial highlights

• Total Group statutory revenue decreased 1.0% to £358m, with like-for-like revenue down 0.7% compared to Q3 last year.

• Average Consumer Value increased 9.4% year-over-year to £1,939.

• Number of active Pets Club members declined 6.9% year-over-year to 7.69 million, partly due to a change in methodology.

Outlook and guidance

• FY26 underlying PBT is expected to be in line with current consensus of £93m (range £90-97m).

• All other guidance remains unchanged from the interim announcement.