Pets at Home is axing up to 250 jobs as part of a sweeping cost-cutting plan to stabalise the business after a series of profit warnings under prior leadership.
Interim chair Ian Burke announced the overhaul on Wednesday, saying "urgent and necessary" action was needed to restore performance at Britain's biggest pet retailer.
The moves comes after half-year profits fell by more than a third to £36.2million, The Times reports.
Former chief executive Lyssa McGowan, who left in September, issued five profit warning during her three year tenure.
Shares in the FTSE250 retailer have dropped nearly 25% over the past year amid a downturn in demand for the group's pet foods, treats, accessories and grooming supplies and wider macro-economic headwinds.
The company said on Wednesday that performance in its retail business had “fallen well below our expectations and those of our investors”, while execution on strategy had “not been good enough”.
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