Petco Health and Wellness

Petco Health & Wellness Company, Inc. engages in the provision of pet health and wellness services. It operates across the U.S., Mexico and Puerto Rico, including a growing network, store veterinary hospitals, and offer a complete online resource for pet health and wellness. The firm offers grooming, as well as in-store and online training. The company was founded in 1965 and is headquartered in San Diego, CA.

Earnings data Q4 2020

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Petco reports strong Q1 performance, reaffirms full-year guidance

Petco's Q1 performance reflects strong sales growth and a focus on strategic cost initiatives. The company's strengths include a robust vet business and strong sales on premium products. Challenges include consumer sentiment impact and the need for prudent Q2 commentary. Petco is focused on seizing opportunities in higher value profit pools and new marketing initiatives.

Petco reports Q2 growth but faces profitability challenges in discretionary segment

Petco's Q2 2023 performance showed growth in net revenue and comparable sales, but challenges in the discretionary environment impacted profitability. The company is focused on cost-saving measures and remains confident in capturing long-term opportunities in the pet category despite current challenges.

Petco outlines operational reset plan and introduces value brands

Petco's Q3 call highlighted a focus on delivering value, honing pricing, driving supply chain efficiency, and optimizing the labor model. The company aims to control controllables, bring more pets into their care ecosystem, and return to long-term growth and profitability.

Petco reports record sales in Q4 2022, eyes growth opportunities

Petco's strong Q4 performance reflects its resilience and strategic focus on pet health and wellness. While facing margin pressure and short-term challenges, the company is well-positioned to capitalize on growth opportunities in the pet market. Operational improvements and a loyal customer base support Petco's long-term success.

Petco reports robust Q1 performance, eyes growth in premium services

Petco's focus on services and strategic initiatives is propelling growth and resilience in the pet care sector. Despite facing consumer behavior changes and pricing challenges, the company remains optimistic about its long-term profitability.

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Q3 2023 Operating Results Comparable sales flat year-over-year and increased 4.1 percent on a two-year basis Net revenue of $1.49 billion decreased 0.5 percent year-over-year GAAP n et loss of $1.2 billion, or $(4.63) per share, reflecting a $1.2 billion non-cash goodwill impairment charge associated with goodwill originally recorded in 2015, compared to GAAP net income of $19.9 million, or $0.07 per share in the prior year Adjusted Net Income1 decreased $44.5 million to $(14.5) million Adjusted EBITDA1 of $72.2 million compared to $120.2 million in the prior year Adjusted Earnings Per Share1 of $(0.05), compared to $0.11 per share in the prior year Operating Cash Flow of $34.4 million compared to $109.4 million in the prior year Free Cash Flow1 of $(28.1) million, compared to $33.5 million in the prior year and $(7.8) million compared to $(2.6) million in the prior year on a year-to-date basis SAN DIEGO , Nov. 29, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), a complete partner in pet health and wellness, today announced its third quarter 2023 financial results. In the third quarter of 2023, Petco delivered net revenue of $1.49 billion, down 0.5 percent versus prior year.

Petco Health + Wellness Company, Inc. Reports Third Quarter Earnings

Petco Health and Wellness Company likely saw muted sales in the third quarter, analysts at UBS wrote in a note to clients ahead of the pet care retailer's earnings report being handed down before the stock market opens on Wednesday, November 29. The analysts wrote that Petco's results would likely feature stable consumable sales but there remained several unknowns.

Petco 3Q sales likely muted; aggressive promotions and pricing expected to weigh on margins

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Petco Health and Wellness Company, Inc. to Host Third Quarter 2023 Earnings Conference Call on November 29, 2023

Pet stocks have struggled due to a post-pandemic slowdown. Rising interest rates have pressured Petco's variable-rate debt.

Why Petco Stock Fell 20% in September

Petco shares have fallen 56% year-to-date and are down 78% from its IPO price. The decline in high-margin non-consumable revenue has led to a decline in EBITDA. Petco is well-positioned in the long term due to long-term growth in pet spending and its position as a leader in the pet industry.

Petco: Heavily Discounted Despite Favorable Long-Term Trends

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With most products under $20 – and more than 500 items in total – the Merry Makings collection offers deals on apparel, accessories, toys, treats and home décor for every pet family and budget SAN DIEGO , Oct. 2, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced this year's Merry Makings holiday collection, a convenient one-stop shop to fuel celebrations all season long at a great value for pets and pet parents. As part of the pet humanization trend, 80% of Petco shoppers consider their pets to be part of the family when celebrating and gifting during the holidays.

Petco Helps Pet Parents Make Every Moment Merry with One-Stop Holiday Shop

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Yes, Petco, Chewy, and Others Should Worry About Walmart's Deeper Dive Into Pet Care. Here's Why.

To compete against Chewy and Amazon, the retailer touts its 1,500 locations. But cost-cutting can make many stores less safe for animals.

How Staff Cuts Are Undermining Petco's Strategy Of Pushing Store Visits Instead Of The Internet

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SAN DIEGO , Sept. 15, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced that Brian LaRose, Chief Financial Officer, and Dr. Whitney Miller, DVM, Chief Veterinarian, will participate at the Evercore ISI Virtual Pet Care Summit on September 20, 2023.

Petco to Participate in the Evercore ISI Virtual Pet Care Summit

SAN DIEGO , Sept. 8, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), today announced that Ron Coughlin, Chairman and Chief Executive Officer, will participate in a fireside chat at the 30th Annual Goldman Sachs Global Retailing Conference on September 13 at 3:55 p.m.

Petco to Participate in the 30th Annual Goldman Sachs Global Retailing Conference

Chewy and Petco both say pet lovers have been trading down to lower-priced options. For instance, they've turned to buying bags of dry food as opposed to cans of wet food.

Why Chewy and Other Pet Retailers Are Having a Tough Earnings Season

Petco Health & Wellness has seen growth declines post-pandemic, with flat EBITDA and deleveraging on the bottom line. The company's business quality is questionable as debt has not come down in absolute terms, which together with lower earnings pushes up leverage ratios. Despite the sell-off in the shares, I fear leverage and quality concerns, making me cautious to buy the dip.

Petco Health And Wellness: Proving To Be A Dog

Petco announced fiscal second-quarter results that were roughly in line with analysts' expectations. But the pet products and services retailer also reduced its profitability outlook for the year, and announced new multiyear cost savings initiatives.

Why Petco Stock Dropped 24% This Week

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As shares of Petco Health & Wellness reeled on Thursday due to weaker demand and a downbeat financial forecast, executives at the pet-store chain said that customers continued to migrate toward more expensive pet food as well as the cheaper offerings, after months of abnormally high inflation that have reshaped shoppers' buying patterns.

Petco customers are flocking toward cheaper pet food — and the more expensive stuff — amid inflation ‘bifurcation'

Sales growth was partially offset by weakness in supplies and companion animal business, Petco said.

Petco Cites Consumer Spending Pressures, Cuts 2023 Guidance

Petco met second-quarter expectations, but guided lower for the full year. The company sees signs discretionary spending is on the decline.

News for Petco Health and Wellness Stock (WOOF)