Pets at Home's update was positive and remains consistent with the clearly successful actions employed in recent years, Jefferies analysts Andrew Wade and Grace Gilberg say in a note. "We highlight the demonstrable success that the existing strategy has delivered, with market share growing 100 basis points and pretax profit +50% since FY 2019," they say. The pet-care company's full integration of its brands, products and services into a single, digital destination has further potential for cross-selling gains, while much of the implementation work has been done and customer-related improvements are expected to be delivered over the next two years, they add. (michael.susin@wsj.com)

Source: Wall Street Journal May 26, 2023 11:22 UTC