Big shake-up at Pets At Home! 🐾 The popular pet retailer has announced the sudden departure of its CEO, Lyssa McGowan. This comes hot on the heels of a revised profit forecast—it’s the second such cut this year, with the new expectation slashed to £90-£100 million from an earlier £110-£120 million. 📉
The pet market has been a bit “ruff” lately, with sluggish sales putting the company in a tight spot. Despite a growth of over 10% in online sales, physical store sales have slipped by 5% so far. It’s not all doom and gloom though, they’ve got big plans to open 10 new vet practices and expand 15 existing sites. Plus, Ian Burke steps in as executive chairman while they search for a new CEO.
It’s been a rocky road for Pets At Home lately, but fans of the brand are hoping these changes will bring fresh hope and growth. What do you think? Are you seeing the same trends at your local pet shop? 🐶🐱 Let us know in the comments!