Animal lovers are brushing off the rising cost of living to snap up premium food and treats for their pets.
Pets at Home said owners are increasingly treating cats and dogs ‘like members of the family’, spending on Christmas presents and turning to more expensive treats and food.
The pet supplies retailer’s boss Lyssa McGowan said as the squeeze on incomes intensifies ‘people are continuing to prioritise their pets’.
Pampered: Pets at Home said owners are increasingly treating cats and dogs ‘like members of the family’, spending on Christmas presents and turning to more expensive treats and food
Surveys have shown spending on pets would be one of the last areas people cut through the cost-of-living crisis, which McGowan said has ‘proved to be the case’.
But despite bumper food sales in the six months to the middle of October, pet owners cut back on accessories such as dog toys and fashion.
The retailer said sales climbed 7.3 per cent from a year earlier to £727million.
But as it grappled with soaring energy and shipping costs, Pets at Home’s profit slipped 9.3 per cent to £59.2million.
It held its full-year profit forecast at £131million, And shares dipped 5.1 per cent, or 15.4p, to 288.6p as it warned headwinds would continue.
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