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.

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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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Petco shares fell 29% following the release of its fiscal third-quarter earnings on Wednesday. The company reported a surprise loss in the quarter and announced a new cost-cutting program.

This Pet Stock Is in the Doghouse, but Right Now Could Be a Golden Buying Opportunity

Petco jumped around 10% today, defying several analyst downgrades after a 30%+ post-earnings drop on Wednesday. The company is suffering through a "challenging consumer environment" and outlined an "operational reset" to improve profitability.

Why Petco Health and Wellness Stock Rebounded Today

Petco's (WOOF) fiscal Q3 results came in soft, leading to strategic changes focused on cost efficiency, service expansion, and product enhancements to address challenges and promote long-term growth.

Petco (WOOF) Q3 Earnings Miss Estimates, Sales Decline Y/Y

As every retailer looks to define what value means to their customer, pet health and wellness company Petco is finding that offering pet parents solutions tailored to meet the standards they have for caring for their pets is the driving force in reaching its core customer base.

Petco Aims to Be the Go-to Retailer for All Things Pets

Petco missed estimates on the top and bottom lines in the third quarter. Comparable sales were flat and it reported an adjusted loss for the quarter.

Why Petco Stock Was Rolling Over Today

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF ) Q3 2023 Earnings Call Transcript November 29, 2023 8:00 AM ET Company Participants Benjamin Thiele-Long - Vice President of Corporate Communications Ron Coughlin - Chief Executive Officer Brian LaRose - Chief Financial Officer Conference Call Participants Oliver Wintermantel - Evercore ISI Peter Benedict - Robert W. Baird Simeon Gutman - Morgan Stanley Steven Zaccone - Citigroup Michael Lasser - UBS Steven Forbes - Guggenheim Securities Anna Andreeva - Needham & Company Seth Basham - Wedbush Securities Operator Good morning, and welcome to the Petco Third Quarter 2023 Earnings Call.

Petco Health and Wellness Company, Inc. (WOOF) Q3 2023 Earnings Call Transcript

Petco Health and Wellness Company's shares fell sharply in Wednesday premarket trading after it swung to a worse-than-expected third-quarter loss after booking a hefty impairment charge. The pet care retailer reported a 0.5% decline in sales to $1.49 billion for the quarter, below the $1.51 billion expected by Wall Street analysts.

Petco shares slump as it swings to 3Q loss due to hefty impairment charge

Shares of Petco Health & Wellness Co. Inc. WOOF tumbled 14.3% in premarket trading Wednesday, after the pet care products retailer reported a surprise fiscal third-quarter loss and slashed its full-year outlook, and said it was taking “swift and decisive action” to boost performance. The company swung to a net loss for the quarter to Oct. 28 of $1.24 billion, or $4.63 a share, from net income of $19.9 million, or 7 cents a share, in the year-ago period.

Petco's stock plunges after surprise loss reported, outlook slashed amid ‘challenging consumer environment'

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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3 Cheap Pet Stocks Worth Betting On Now

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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

The world's biggest brick-and-mortar retailer is looking to expand its reach into the pet care market. The U.S. pet supply retailing market is highly fragmented, leaving even its biggest dedicated names vulnerable to a competitor with more dominant presence.

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.

News for Petco Health and Wellness Stock (WOOF)