Petco Health & Wellness Company, Inc. Stock Price, News & Analysis

Petco Health and Wellness Company (Nasdaq: WOOF) announced the expansion of its PupBox subscription service to include tailored boxes for dogs at all life stages, from puppies to senior dogs. Launching on September 15, 2021, these subscription boxes will cater to the specific needs of pets based on their age, size, and health requirements. The initiative aims to enhance Petco's recurring revenue model and support the growing number of pets in households. Each box will feature curated items including toys, treats, and educational materials, priced between $29 and $39 per month.

Petco Health and Wellness Company (NASDAQ: WOOF) will present virtually at the Goldman Sachs 28th Annual Global Retailing Conference on September 9, 2021, at 10:50 A.M. Eastern Time. The event will be accessible via Petco's investor relations page. A replay will be available until September 23, 2021. Petco aims to enhance the lives of pets and their owners through wellness solutions and operates over 1,500 locations, including more than 150 in-store veterinary hospitals.

Petco Health and Wellness Company (Nasdaq: WOOF) reported strong Q2 2021 financial results, with net revenue increasing by 19% to $1.4 billion compared to the prior year. The company achieved a net income of $75.1 million or $0.28 per share, up $67.7 million year-over-year. Adjusted EBITDA rose to $155.1 million, marking a 19% increase. Total debt remained flat at $1.7 billion, while Net Debt improved by $73.4 million. Petco raised its FY 2021 guidance, projecting net revenue of $5.6-$5.7 billion.

Petco Health and Wellness Company has appointed Brian LaRose as the new Chief Financial Officer effective August 19, 2021. He takes over from Mike Nuzzo, who will remain as Chief Operating Officer and President. LaRose, previously Senior Vice President of Finance, has played a crucial role in strengthening Petco's balance sheet during its IPO process. CEO Ron Coughlin praised LaRose's extensive financial and digital experience, noting his impact on Petco's corporate strategy and performance. LaRose aims to enhance stakeholder value in his new role.

Petco (Nasdaq: WOOF) has partnered with Klarna to introduce the 'Pay in 4' payment solution, enhancing access to pet care services. Starting later this year, customers can split purchases into four interest-free payments. The $119 billion pet market is expected to grow at an 8% CAGR over the next five years, with millennials and Gen Z driving demand. Klarna's service aims to remove financial barriers for pet parents while boosting Petco's sales through increased average order values. Petco has shown strong growth in the first quarter, focusing on complete pet wellness and seamless shopping experiences.

Petco Health and Wellness Company (NASDAQ: WOOF) is set to release its second quarter 2021 earnings on August 19, 2021, at 7:30 A.M. Eastern Time. Following the earnings release, executives will conduct a conference call at 8:30 A.M. Eastern Time to discuss the company's financial results and operational performance. The earnings announcement will be accessible on the company’s Investor Relations page, and a replay of the call will be available for a month after the event. Petco operates over 1,500 locations across the U.S. and beyond.

Petco Health and Wellness Company (Nasdaq: WOOF) reported significant outcomes from its 2021 Annual Meeting of Stockholders held on July 21, 2021. Director nominees Ronald Coughlin Jr., Maximilian Biagosch, Cameron Breitner, and Sabrina Simmons were elected for a three-year term. Stockholders approved the 2020 compensation of named executive officers and agreed on a one-year frequency for future advisory votes regarding executive compensation. Additionally, the appointment of Ernst & Young LLP as the independent registered accounting firm for the fiscal year ending January 29, 2022, was ratified.

Petco Health and Wellness Company (NASDAQ: WOOF) has appointed R. Michael Mohan as Lead Independent Director, effective July 12, 2021. Mohan, who joined the board in March 2021, brings extensive retail experience, having previously served as President and COO of Best Buy. This move is part of Petco's strategy to enhance transformation and growth, with Chairman and CEO Ron Coughlin emphasizing Mohan's leadership qualities. Mohan aims to further advance Petco's mission to improve pet lives and support its growth strategy.