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LONDON - Pets at Home Group Plc announced Thursday that CEO Lyssa McGowan has left the company with immediate effect, while simultaneously issuing a profit warning amid challenging retail conditions.
The UK pet care retailer has appointed non-executive chair Ian Burke as executive chair until a permanent CEO is found. McGowan had led the business since 2022.
In an unscheduled trading update, Pets at Home lowered its profit guidance for fiscal year 2026, now expecting underlying profit before tax to range between £90-100 million. The downward revision reflects weaker-than-anticipated performance in the retail segment.
The company reported that the underlying pet retail market has remained subdued, showing a slight decline year to date. While Pets at Home has improved its retail performance sequentially, the rate of improvement has fallen below expectations.
Store sales have proven particularly challenging, declining 5% year to date, despite double-digit digital sales growth that has outperformed the broader online retail market. The company cited its improved digital platform and strong growth in Easy Repeat subscriptions as factors supporting online performance.
In contrast to retail challenges, the company’s Vet Group continues to deliver high-single digit sales growth. Pets at Home confirmed it remains on track to open 10 new veterinary practices in FY26, alongside 15 vet extensions.
The company operates over 450 pet care centers across the UK, many housing veterinary practices and grooming salons, along with more than 440 veterinary general practices in both standalone locations and within its retail centers.
This information was provided in a company press release statement.
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