Petco Stock Drops After Q1 Revenues Miss: Details
Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) released its first-quarter results after Thursday's closing bell. Here's a look at the details in the report.
The Details: Petco Health and Wellness reported quarterly losses of four cents per share, which met the analyst consensus estimate. Quarterly revenue came in at $1.49 billion, missing the Street estimate of $1.5 billion and down from revenue of $1.53 billion from the same period last year.
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Petco reported:
- Net sales of $1.5 billion decreased 2.3% year-over-year in line with the company’s first quarter outlook.
- Comparable sales decreased 1.3% year-over-year.
- Gross profit margin expanded approximately 30 basis points to 38.2% as a percentage of net sales.
“We are pleased to deliver first quarter earnings results ahead of our guidance and to reaffirm our outlook for fiscal 2025, which now incorporates the impact of tariffs. This performance is a testament to the execution of our nearly 30,000 team members and the resilience of the category in which we operate,” said Joel Anderson, Petco’s CEO.
WOOF Price Action: According to data from Benzinga Pro, Petco stock was down 10.77% at $3.23 at publication during Thursday's extended trading.
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