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

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.

Petco (NASDAQ: WOOF) announced a new advertising campaign to promote the health benefits of pet exercise and play. Under the theme "It's what we'd want if we were pets," the campaign emphasizes a holistic approach to pet wellness. Key initiatives include the "Ruff and Mews Sales Event" from July 11-24, 2021, featuring discounts up to 60% on pet products. Petco encourages proper nutrition and mental stimulation to enhance pets' health, urging pet owners to prioritize physical activities. The campaign also aims to educate pet parents through a Facebook Live event and various resources on its website.

Petco Health and Wellness Company (NASDAQ: WOOF) announced the expansion of its nutrition offerings, introducing WholeHearted Plus, True Meals™ Dog Food, and new veterinary diet solutions. WholeHearted Plus provides affordable, high-quality dog food, combining protein with grains and vegetables. True Meals™ features minimally processed, nutrient-dense recipes. The veterinary diets address issues like obesity and allergies, promoting optimal health. This initiative supports Petco's Whole Health philosophy, enhancing its commitment to high nutrition standards and pet wellness.

Petco Health and Wellness Company (NASDAQ: WOOF) will present virtually at the Evercore ISI Consumer & Retail Summit on June 15, 2021, at 9:30 A.M. ET. The presentation and audio webcast will be accessible via the company’s investor relations page. A replay will be available until June 29, 2021. Petco, established in 1965, operates over 1,500 locations in the U.S., Mexico, and Puerto Rico, along with 137 veterinary hospitals. The company is committed to enhancing pet health and wellness and has aided in finding homes for over 6.5 million animals.

Petco Health and Wellness Company (NASDAQ: WOOF) will present virtually at the Baird 2021 Global Consumer, Technology & Services Conference on June 10, 2021, at 8:30 A.M. ET. The live audio webcast can be accessed on Petco's investor relations page, with a replay available until June 24, 2021. Founded in 1965, Petco focuses on improving pet health and wellness through products and services, operating over 1,500 locations and 137 veterinary hospitals across the U.S., Mexico, and Puerto Rico. The company also supports animal welfare initiatives through Petco Love.

Petco Health and Wellness Company (NASDAQ: WOOF) has announced the pricing of a secondary offering, led by its principal stockholder, Scooby Aggregator, LP. The offering comprises 22,000,000 shares of Class A common stock, priced at $24.00 per share. The Selling Stockholder may sell an additional 3,300,000 shares if the underwriters exercise their option. Petco will not receive any proceeds from this offering. Goldman Sachs and BofA Securities are the joint lead book runners for the transaction.