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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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

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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One of these 5 Pet Care Stocks Can Be the Next Short Squeeze

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.

Why Petco Stock Is Falling Today

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF ) Q2 2023 Earnings Call Transcript August 24, 2023 8:00 AM ET Company Participants Cathy Yao - VP of IR Ron Coughlin - CEO Brian LaRose - CFO Conference Call Participants Oliver Wintermantel - Evercore ISI David Lance - Wells Fargo Simeon Gutman - Morgan Stanley Anna Andreeva - Needham & Company Steven Forbes - Guggenheim Seth Basham - Wedbush Securities Michael Lasser - UBS Steven Zaccone - Citi Greg Sommer - Gordon Haskett Operator Good morning, everyone, and welcome to Petco's Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Petco Health and Wellness Company, Inc. (WOOF) Q2 2023 Earnings Call Transcript

Petco Health & Wellness (WOOF) came out with quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.19 per share a year ago.

Petco Health & Wellness (WOOF) Q2 Earnings Lag Estimates

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Petco Health and Wellness (NASDAQ: WOOF ) stock is falling following the release of its earnings report for the second quarter of 2023. The bad news for WOOF stock comes from a guidance update in its latest earnings report.

Why Is Petco Health and Wellness (WOOF) Stock Down 18% Today?

Petco Health and Wellness (NYSE:WOOF) saw its stock slide more than 12% as American consumers spend less money on their pets. The retailer, in its quarterly results, revealed a 9.4% decline in its supplies and companion animal segment, whilst reporting at group level a US$14.6 million loss for the three-month period.

Petco stock in doghouse as America spends less on its pets

Petco Health & Wellness Co.'s stock WOOF, -1.95% slid 9% in premarket trade Thursday, after the pet care and goods company swung to a second-quarter loss and issued a profit warning for 2023. The San Diego-based company had a net loss of $14.6 million, or 5 cents a share, for the quarter, after income of $13.5 million, or 5 cents a share, in the year-earlier period.

Petco's stock slides 9% after company swings to loss and cuts 2023 guidance

Q2 2023 Operating Results Comparable sales grew  3.2  percent year-over-year and  7.0  percent on a two-year basis, resulting in the 19th consecutive quarter of comparable sales growth Net revenue of $ 1.53  billion increased  3.4  percent year-over-year Net loss of $ 14.6  million, or  $(0.05)  per share compared to net income of  $13.5  million, or  $0.05  per share in the prior year Adjusted Net Income1 decreased  $27.2  million to $ 16.3  million Adjusted EBITDA1 of $ 112.6  million compared to  $133.5  million in the prior year Adjusted Earnings Per Share1 of  $0.06 , compared to  $0.16  per share in the prior year Operating Cash Flow of  $96.6  million compared to  $42.6  million in the prior year Free Cash Flow1 of $44.6 million , compared to  $(27.7)  million in the prior year SAN DIEGO , Aug. 24, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), a complete partner in pet health and wellness, today announced its second quarter 2023 financial results.     In the second quarter of 2023, Petco delivered net revenue of $1.53 billion, up 3.4 percent versus prior year, driven by strength in the company's consumables business, up 6.8 percent versus prior year, and services and other business, up 30.6 percent versus prior year.

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

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Expanded digital offerings to deliver enhanced convenience, accessibility and value for pet parents SAN DIEGO , Aug. 17, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced an expanded partnership with DoorDash – one of its existing fulfillment partners – to make Petco's assortment of products available nationally via the DoorDash Marketplace. Through the DoorDash mobile app and website, pet parents will have greater access to Petco's curated selection of products supporting pets' whole health for on-demand delivery.

Petco Expands On-Demand Delivery Through DoorDash Partnership, Unveils New App Features

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Exclusive partnership to give pet parents greater access to the rapidly expanding fresh and frozen pet food market with Ollie's assortment now available at petco.com, via the Petco app, and in most pet care centers nationwide by the end of September SAN DIEGO , Aug. 15, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) and dog nutrition brand Ollie today announced an exclusive partnership to bring Ollie's human-grade fresh and baked food, treats and supplements for dogs to Petco customers. Previously only available direct-to-consumer through an online subscription, Ollie's high-quality assortment can now be shopped in a variety of flexible ways at petco.com/Ollie, via the Petco app, and in most Petco pet care centers nationwide by the end of September.

Petco Becomes First and Only National Retailer to Bring Ollie's Human-Grade Pet Nutrition to Pet Parents Nationwide

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Featuring more than 350 items total, including over 200 products under $20,  the new collection ranges from apparel, accessories and home décor to toys and treats SAN DIEGO , Aug. 1, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today unveiled its latest "Bootique" collection, offering the ultimate one-stop shop for pet essentials and Halloween must-haves. Featuring more than 350 items total, including over 200 products under $20, the new collection ranges from apparel, accessories and home décor to toys and treats to help pets and pet parents show off their spirit in style and create memories safely.

Petco Debuts Annual Halloween 'Bootique' Collection with Offerings for Every Pet Type and Budget

The pet health and wellness company offers refuge and shares veterinarian-recommended tips to help keep pets safe and cool SAN DIEGO , July 28, 2023 /PRNewswire/ -- As temperatures soar across the country, Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) welcomes leashed pets of all breeds, shapes and sizes into pet care centers nationwide, where they and their families can seek refuge from the extreme heat. They can also stay hydrated with access to fresh, clean and safe water at Petco locations during regular business hours.

PSA: Petco Locations Nationwide Double as 'Cooling Centers' to Help Pets Beat the Heat This Summer

Lowe's

Petco store-within-stores will be available at 300 Lowe's locations by the end of the year.

Lowe's and Petco Expand Store-Within-Store Partnership

Retailers to offer rural customers one-stop shop for pet and home products and services MOORESVILLE, N.C. , July 20, 2023 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) and Petco Health + Wellness Company Inc. (Nasdaq: WOOF) today announced the expansion of their pilot program that brings trusted products, services and expertise – for both home and pets – into a one-stop shop, growing from 15 Lowe's stores to nearly 300 locations by year-end.

Lowe's and Petco Deepen Pet Parent Affinity with Expansion of Store-in-Store Concept to Nearly 300 Locations

News for Petco Health and Wellness Stock (WOOF)