Pets at Home is set to open four new stores throughout March as it accelerates its turnaround plan.
The retailer is investing £3m into the four ‘pet care centres’, including two larger format stores and two veterinary branches. Combined, the sites will add more than 20,000 sq ft to its estate.
Among the first two new locations is Kew, London, where a new 9,911 sq ft store is set to open on 13 March. A 7,663 sq ft store will open in Glossop, Derbyshire, on the same day.
They will be followed “later in the month” by two new Vets For Pets practices, in Stocksbridge, just outside Sheffield, and Giltbrook near Nottingham.
It is the first major investment announced by the business after interim CEO Ian Burke promised “urgent and necessary” action in November to reverse its struggles. Profits fell by nearly third to £36.2m in the half-year to October as its retail division has faced stiffer competition from DTC players, as well as discounters such as Jollyes.
Burke – who replaced ousted former CEO Lyssa McGowen after a surprise profit warning in September – announced that 250 head office roles would be cut.
The business has also been cutting prices, investing in modernising its stores and growing its profitable Vets For Pets network, half of which are franchise owned.
Pets at Home building a ‘future ready’ store estate
“Continued investment in our physical estate is central to our retail strategy and to strengthening our wider petcare ecosystem,” said Pets at Home chief operating officer Anja Madsen.
“By modernising our stores and expanding into new locations, we are enhancing the in-person experience that so many of our customers value, from tailored advice to convenient, integrated services. These new openings reflect our commitment to building a contemporary, future-ready estate that supports pets and their owners however they choose to shop.”
Pets at Home is set to have 460 stores and a further 450 Vets For Pets practices after the latest openings.
“We want every visit to Pets at Home to feel special, with moments of magic for pets and their pet parents, as well as the confidence that they are getting the right support at every stage of their pet’s life,” said Madsen.
“These new openings are another step in building a modern, future-ready estate that strengthens our petcare ecosystem and makes it easier for customers to shop with us in the way that suits them best.”
In December, Pets at Home appointed former Waitrose managing director James Bailey as its new group CEO. He is set to officially join the business on 30 March.
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