End of Covid craze for cats and dogs sparks £160m slump at Pets at Home

More than £160m has been wiped off the value of Britain’s biggest pet shop chain as a Covid-fuelled craze for cat and dog ownership comes to an end. Shares in Pets at Home fell at their steepest pace on record on Thursday, plunging by as much as 23pc to become the biggest faller on the FTSE 250. The slump was triggered by the company’s decision to slash its profit forecasts, blaming weaker sales in stores. Pets at Home said it was now expecting profit before tax of between £90m and £100m for the year ...