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UK pet supplies retailer Pets at Home warns of up to 17% drop in annual profits due to falling sales.
Pets at Home, a UK pet supplies retailer, warned that annual profits could drop by up to 17% due to challenging market conditions.
The company reported a 3% drop in like-for-like retail sales over the 16 weeks to July 17, marking the third consecutive quarter of falling sales.
Despite this, the Vet Group offering saw a 7.8% rise in like-for-like revenues.
Pets at Home now expects annual profits to fall to between £110 million and £120 million, down from £133 million last year.
Shares in the company fell over 8% after the profit alert.
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El minorista de suministros para mascotas del Reino Unido, Pets at Home, advierte de una caída de hasta el 17% en las ganancias anuales debido a la caída de las ventas.