Britain’s pet-owners have been splashing out on Halloween costumes and wellness products for their beloved dogs and cats, despite a lingering cost-of-living crisis.
Pets at Home Group Plc said Tuesday that revenues were up 6.5% in the first half of its year and that it expected strong sales of festive products including advent calendars, dog toys and Christmas puddings for pets.
Shares rose as much as 3.5%. Pets at Home’s stock rallied during pandemic lockdowns as people bought more pets and subsequently proved willing to spend money pampering them.
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“Halloween was up 18% year on year as pets joined in the spooky fun. Christmas has started bigger than ever,” said Pets at Home Chief Executive Officer Lyssa McGowan in an interview Tuesday.
The company has launched its own health and wellbeing range, she said. Best-sellers include a calming spray that people used on their pets during the recent bonfire night — when Brits set off fireworks — as well as ear cleaner and salmon oil to help pets’ joints.
The high level of spending on pets comes despite reports showing weak consumer sentiment ahead of the holiday season. One in three Britons plan to cut their Christmas spending this year, according to a recent survey. Inflation has eased to 4.6% in the UK, but Bank of England rate-setters have warned that they still face a battle to control rising prices.
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