Petco Health and Wellness Company, Inc. reports developments across its pet specialty retail business, including core consumables, supplies, services, expertise and membership offerings delivered through stores, digital channels and the Petco app. Company updates commonly address quarterly and annual operating results, comparable sales trends, profitability goals, guidance, capital expenditures and store-portfolio actions.
Recurring Petco news also covers capital-structure actions such as debt refinancing, leverage reduction and senior secured notes, along with board governance changes. The company's public materials also describe Petco Love, founded in 1999, and its support for local animal welfare groups and in-store adoption events.
Petco Health and Wellness Company (WOOF) reported its Q4 and full year 2024 financial results, showing mixed performance. Q4 2024 saw net revenue decline 7.3% to $1.6 billion, though comparable sales increased 0.5%. The quarter resulted in a GAAP net loss of $13.8 million, improved from $22.6 million loss last year.
Full year 2024 performance included: net revenue decrease of 2.2% to $6.1 billion, comparable sales growth of 0.3%, and gross profit decline of 1.3% to $2.3 billion. The company reported a GAAP net loss of $101.8 million, compared to $1.3 billion loss last year which included a $1.2 billion goodwill impairment charge. Operating cash flow was $177.7 million with Free Cash Flow of $49.7 million.
CEO Joel Anderson expressed confidence in the company's new leadership team and projected double-digit adjusted EBITDA improvement in 2025.
Petco Health and Wellness Company (WOOF) has announced inducement equity awards granted to newly-hired Chief Customer and Product Officer, Michael Romanko, on March 4, 2025. The compensation package includes:
- 1,321,139 restricted stock units
- 323,835 target performance stock units
- 393,082 non-qualified stock options at $2.46 exercise price
The restricted stock units and options will vest 34% after one year, followed by 16.5% every six months through the third anniversary. Performance stock units' vesting is tied to shareholder return over February 2, 2025 to January 29, 2028. The stock options expire in 10 years. These awards, approved by independent board members under Nasdaq Rule 5635(c)(4), were granted outside the company's 2021 Equity Incentive Plan but follow similar terms.
Petco Health and Wellness Company (WOOF) has scheduled its fourth quarter 2024 earnings release and conference call for March 26, 2025. The company will announce its Q4 2024 results and full-year fiscal 2025 outlook at approximately 4:00 p.m. Eastern, followed by a conference call with executives at 4:30 p.m. Eastern.
The earnings release and presentation will be accessible on Petco's Investor Relations website at ir.petco.com. A webcast replay will remain available until April 9, 2025, at 5:00 p.m. Eastern through the same platform.
Petco Health and Wellness Company (WOOF) has announced three key executive appointments to strengthen its leadership team. Sabrina Simmons, former CFO at Gap, Inc., has been appointed as Chief Financial Officer effective February 17. Michael Romanko, former Chief Merchandising and Marketing Officer at Five Below, takes the role of Chief Customer and Product Officer, while Jack Stout, former EVP at 7-Eleven, becomes Chief Merchandising Officer, both effective February 24.
These appointments follow recent executive hires including Glenn Murphy as Executive Chairman and Joel Anderson as CEO. The new leadership team will focus on strengthening retail fundamentals, driving profit improvement, and returning the company to growth. Current CFO Brian LaRose will remain in an advisory role until April 30, 2025, to ensure a smooth transition.
Petco Health and Wellness Company (WOOF) reported Q3 2024 financial results with net revenue of $1.51 billion, up 1.2% year over year, and comparable sales increasing 1.8%. The company posted a GAAP net loss of $16.7 million ($0.06 per share), compared to a $1.2 billion loss in the prior year. Gross profit increased 4.7% to $575.8 million.
Consumables business grew 2.7% and services rose 5.0%, while supplies and companion animal business declined 2.8%. Adjusted EBITDA improved to $81.2 million from $72.2 million. For Q4 2024, Petco expects revenue of ~$1.55 billion and Adjusted EBITDA between $90-95 million, including minimum $10 million in consulting fees.
Petco Health and Wellness Company (Nasdaq: WOOF) has appointed Joe Venezia as Chief Revenue Officer, effective November 17, reporting to CEO Joel Anderson. In this new role, Venezia will oversee pet care centers, pet and veterinary services, real estate, and customer success capabilities, focusing on driving revenue and improving customer experience.
Venezia brings over 25 years of retail experience, most recently serving as Chief Operating Officer of Stores at Michaels. His previous experience includes leadership positions at Bridgestone Retail Operations, Toys 'R' Us, Babies 'R' Us, Walmart, and Procter & Gamble.
Petco Health and Wellness Company (Nasdaq: WOOF) announced it will release its third quarter 2024 earnings results on December 5, 2024, at approximately 4:00 p.m. Eastern. Company executives will host a conference call at 4:30 p.m. Eastern to discuss financial and operating performance. The earnings call will be webcast live, with the release and presentation available on Petco's Investor Relations page. A replay will be accessible until December 19, 2024, at 5:00 p.m. Eastern.
Petco Health and Wellness Company (Nasdaq: WOOF) reported its Q2 2024 financial results, showing a slight decrease in net revenue to $1.52 billion, down 0.5% year-over-year. The company experienced a GAAP net loss of $24.8 million or $(0.09) per share, compared to a loss of $14.6 million or $(0.05) per share in the prior year. Adjusted EBITDA decreased to $83.5 million from $112.6 million. Despite challenges, Petco saw growth in consumables (up 1.5%) and services (up 3.1%), offset by declines in supplies and companion animal business. The company provided Q3 2024 guidance, projecting revenue of ~$1.5 billion and Adjusted EBITDA between $76-80 million.
Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) has announced its upcoming second quarter 2024 earnings release and conference call. The company, a complete partner in pet health and wellness, will release its Q2 2024 earnings results on September 10, 2024, at approximately 4:00 p.m. Eastern. Following the release, Petco executives will host a conference call at around 5:00 p.m. Eastern to review the company's financial and operating performance.
The earnings call will be webcast live, with the earnings release and presentation available on Petco's Investor Relations page at ir.petco.com. For those unable to attend live, a replay of the webcast will be accessible online approximately two hours after the conference call, remaining available until September 24, 2024, at 5:00 p.m. Eastern.
Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) has announced the granting of inducement equity awards to its newly-hired Chief Executive Officer, Joel D. Anderson, on July 29, 2024. The awards, approved by independent board members, include:
- 1,492,538 restricted stock units
- 1,492,538 target performance stock units
- Non-qualified stock options to purchase 1,366,121 shares at $5.00
- Non-qualified stock options to purchase 1,381,216 shares at $7.50
The restricted stock units and options will vest over three years, while the performance stock units are tied to Petco's adjusted EBITDA performance from February 2, 2025, to January 29, 2028. These awards were granted outside Petco's 2021 Equity Incentive Plan but follow similar terms and conditions.