Demand for pets and pet products has taken a hit in Britain amid sticky inflation and rising living expenses, as owners are spending less on treats and other discretionary purchases.
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The British retailer now expects underlying pre-tax profit of between 90 million pounds and 100 million pounds ($122.55 million to $136.17 million) for the year ending March 2026.
It had earlier estimated the figure between 110 million pounds and 120 million pounds.
On average, analysts are expecting underlying pre-tax profit of about 116 million pounds for fiscal 2026, according to LSEG data.
Current non-executive Chair Ian Burke has assumed the role of executive chair till a permanent CEO is appointed, it added.
($1 = 0.7344 pounds)
Reporting by Raechel Thankam Job in Bengaluru; Editing by Janane Venkatraman