UK pet store Pets at Home faces financial strain with rising costs and falling sales, leading to a stock drop.

UK pet retailer Pets at Home warned of slowed consumer demand and a potential £18 million cost increase due to new tax measures, causing its shares to drop by over 10%. Despite a 1.9% revenue rise to £789.1 million, retail sales grew only 0.1%, affected by a declining market and digital transition. The company expects profits to grow modestly from around £132 million, below previous estimates of £144 million.

November 27, 2024
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