Pets at Home Shares in Focus Ahead of Interim Results

Pets at Home (LON: PETS) will report its FY26 interim results tomorrow, with investors watching closely after a challenging start to the year and a recent share price decline. 

Shares in the retailer are down nearly 28% over the past 12 months and around 10% in the last month, despite a modest 1.2% rebound in the past week. The stock currently trades near 203.2p.

In its first-quarter update, the company acknowledged softer-than-expected market conditions. 

Pets at Home had initially based its FY26 guidance on 2% growth in the UK pet retail market, but Q1 growth fell short of that assumption.

Against what it described as a “subdued market backdrop,” the group said it was encouraged by improving relative performance and reiterated expectations that it would outperform the wider retail market over the financial year.

In the update, the company shifted its market growth assumption to around 1% and lowered its underlying profit before tax guidance to a range of £110 million to £120 million for FY26. 

This is well below the current company-compiled analyst consensus of £134 million.

With management stating in the previous update that the outcome within its guidance range will depend largely on whether retail market growth accelerates in the second half and that reaching the upper end would require a clear improvement in trading conditions, this could be something to keep a close eye on. 

Overall, Analyst sentiment remains broadly supportive, with five Buy ratings, two Hold and two Sell, according to data compiled by TradingView.