Pets at Home Group Plc (PETS) Q4 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, I hope you're all safe and well, and welcome to Peta Home's FY22 preliminary results presentation. I'm Peter Pritchard, the Group CEO, and with me today is Mike Iden, our Group CFO. Despite another period characterised by significant and evolving external challenges, our performance this year has been nothing short of outstanding, delivering record growth in sales, profit and cash flow. We continue to take share across each segment of the market in which we operate. We welcomed over 1.1 million new pet owners across our business, lengthening the runway of growth ahead of us. And we improved spend per customer with our aggregate share of customer wallet increasing by 600 basis points to 37%. Simply put, our business has never been in a stronger position than it is today. The ongoing resilience of the pet care market, coupled with our unique omnichannel model and clear strategic priorities to make pet care as affordable, easy and convenient as possible for customers, means that we look into the future with the utmost of confidence. We continue to invest in our business to build capability and to drive future growth, outpacing their own market in which we operate and creating long-term value for all our stakeholders. It has been a year of breaking records. Our new customer acquisition, our puppy and kitten clubs, increased signups by 48% year-on-year, with club members now accounting for approximately one fifth of our record 7.3 million VIP customers. Over 90% of puppy and kitten customers acquired over the past two years remain active today, providing a significant growth opportunity over the next 12 to 15 years as they engage and shop across our full ecosystem of products and services. We already have 2 million VIPs shopping more than one channel. That's...