Pets at Home Group Plc (PETS) Q2 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, I hope you are all safe and well, and welcome to Peta Home's FY22 interim results presentation. I'm Peter Pritchard, Group CEO, and with me today is Mike Iddin, our Group CFO. The strong performance across our retail and veterinary operations during the last year has accelerated throughout the past six months, and today our business has never been stronger. Executing our strategy of providing all of our customers' pet care needs continues to deliver. Through making pet care convenient, affordable, supportive and rewarding across all channels, we continue to see strong growth in new customers, higher levels of engagement and spend, and good growth in our customers' share of wallet. Stronger than anticipated growth in new pets over the past 18 months has really turbocharged what was already a robust market And as the UK's leading pet care business, we are well-placed to capitalise on this opportunity. Our omni-channel model enables us to access all components of spend across product, grooming and veterinary services over a pet's lifetime. We've seen significant increases in new customers across our loyalty clubs and our subscription platforms. We now have over 6.8 million active VIP members, 1.4 million pet care plan subscriptions and sign-ups across our puppy and kitten club have more than doubled. year on year. We continue to see strong growth across our stores, groom rooms and omnichannel operations and our veterinary business continues to go from strength to strength. With approximately 10,000 new client registrations per week and close to 90% of our practices now making a profit. We are building capacity and capabilities at pace across our pet care ecosystem. By harnessing our unparalleled data insights to drive customer acquisition, retention and li...