Pets at Home Slumps After Latest Profit Warning, CEO’s Exit

Pets at Home Group Plc’s shares tumbled the most on record after it lowered its profit forecast for the second time in less than two months and said its chief executive officer has left the company.

The British retailer now only expects the top end of its underlying pretax profit range to come in at £100 million ($136 million) this year, down from the £120 million it forecast in July. It blamed the downgrade in part on “challenging” store sales, which have dropped 5% so far this year.