As pet retailer Pets at Home revealed a 7% sales increase (up 1.3% LfL) for the 52 weeks ending March 31, 2012, bringing its turnover to £544.3m, ceo Nick Wood has hinted that LfL revenue has increased even further for the year to October 11, 2012.
"Continued investment in new stores and formats" was credited for the increases, and Mr Wood said ongoing expansion had "built good momentum into the current financial year."

Mr Wood, who was appointed chief executive earlier this year, called the results "extremely pleasing" considering the "challenging economic and retail background" of the sales period.

The year to March saw the opening of 32 new stores, the commissioning of a second distribution centre and the establishment of a global sourcing operation in Hong Konhg. Pets at Home has also significantly increased its service proposition, with 18 new grooming salons and 19 'Companion Care' in-store vetinary practices. It now operates 61 salons and 92 vet practices.

These services will continue to expand, according to the retailer. Mr Wood said: "Since I joined Pets at Home in June 2012, I have been impressed with the talent and enthusiasm of our management team and our colleagues throughout the business.

"These results serve to underline the quality of the whole team. Whilst there remains a great deal of uncertainty for consumers with little prospect of any real improvement in disposable incomes in the near future, we remain focused on delivering exceptional value for our customers.

"We believe that this, together with new stores and trading formats, new product and service innovations and the continued exceptional engagement of our colleagues will be the basis of another year of growth."

The retailer added that it had "made strong progress in the first half of the current financial year with strong returns from areas where [it had] invested in particular in range and merchandising development in dog and cat advanced nutrition."