Pets at Home shares (LON: PETS) rallied on Wednesday after strong sales through the eight weeks to 10 September 2020.
The retailer said that it expects full-year profit to be ahead of the current market expectations.
“This is testament to several factors, not least the inherent resilience in our pet care model and the underlying pet care market,” said Pets at Home.
“We continue to benefit from the adaptability of our operations to changes in customer behaviour and preferences, our continuing investment in omni-channel capacity and customer acquisition channels, and the clear advantages of our unique owner-managed First Opinion veterinary model.”
“Although Pets at Home did not discount the threat of a second UK-wide lockdown the retailer said it maintained a “strong balance sheet and liquidity,” the group added.
Pets at Home shares (LON: PETS) are trading +16.97% at 357,00 (0838GMT).