Pets At Home is encountering sales challenges amid weakened consumer confidence, resulting in a 0.2% revenue decline in December compared to the previous year. The retailer suffered from reduced footfall during a crucial shopping season. Additionally, the recent announcement by Chancellor Rachel Reeves to raise national insurance contributions poses challenges for retailers who rely on lower-paid workers. Analysts note that households are increasingly cautious, impacting their willingness to purchase new pets or upgrade accessories for existing ones, further straining Pets At Home's performance amidst a challenging UK retail environment.
Pets At Home has experienced declining sales due to worsening consumer confidence, weak footfall, and increased employment costs stemming from national insurance contributions.
The retailer saw a softer performance in its business as revenue fell 0.2% (compared to the previous year) during the critical holiday shopping period.
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