Welcome to our dedicated page for Petco Health & Wellness Company news (Ticker: WOOF), a resource for investors and traders seeking the latest updates and insights on Petco Health & Wellness Company stock.
Petco Health & Wellness Company, Inc. (WOOF) delivers comprehensive pet care solutions through its national network of stores, veterinary hospitals, and digital platforms. This news hub provides investors and industry observers with verified updates about the company’s operational developments and market position.
Access official press releases, financial announcements, and strategic initiatives in one centralized location. Track updates across key areas including quarterly earnings, new product launches, veterinary service expansions, and community partnerships with animal welfare organizations.
Discover how Petco’s integrated ecosystem evolves through coverage of its retail innovations, digital platform enhancements, and sustainability efforts. Content is curated to support informed analysis of the company’s performance in the competitive pet care sector.
Bookmark this page for streamlined access to Petco’s latest corporate developments. Combine these updates with the company’s SEC filings and investor relations materials for complete market intelligence.
Petco Health and Wellness Company announces leadership changes to streamline operations and enhance profitability. James Roth is appointed as Chief Stores Officer, responsible for U.S. and Puerto Rico operations, bringing over 20 years of retail experience from Abercrombie & Fitch. Shari White becomes Interim Chief Merchant, with a background at Perrigo and Target. The changes include eliminating the Chief Operating Officer role, and the departure of Justin Tichy and Amy College. The executive team expands with key strategic roles to facilitate quicker decision-making and implementation of best practices.
Petco Health and Wellness reported its Q1 2024 earnings, showing a net revenue decline of 1.7% to $1.5 billion. Comparable sales also dipped by 1.2% year-over-year but grew 4.1% over two years. The company reported a GAAP net loss of $46.5 million ($(0.17) per share), a significant increase from the prior year's loss of $1.9 million ($(0.01) per share). Adjusted Net Income stood at $(11.8) million ($(0.04) per share), down from $14.9 million ($0.06) per share in the previous year. Adjusted EBITDA dropped to $75.6 million from $111.0 million. Operating Cash Flow was $(8.4) million, a decrease from $37.7 million last year, and Free Cash Flow was $(41.1) million, compared to $(24.4) million. Despite these declines, the company saw growth in its consumables (0.1%) and services (4.2%) sectors.
Petco Health and Wellness Company (Nasdaq: WOOF) has appointed Glenn Murphy as Executive Chairman of the Board of Directors effective immediately.
Murphy will aid in enhancing profitability and driving long-term growth. He will also lead the search for a permanent CEO.
Murphy's extensive retail sector experience includes roles at FIS Holdings, lululemon athletica, Gap, and Shoppers Drug Mart.
As part of his appointment, Murphy has purchased 1,470,589 shares of Petco's Class A common stock for approximately $2.5 million. He will also receive substantial inducement awards including 1,000,000 restricted stock units and stock options for up to 4,250,000 shares.
The Board of Directors will now include eleven members.
Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) will host its first quarter 2024 earnings conference call on May 22, 2024, to review financial and operating performance. The webcast will be available on the Investor Relations page for replay until June 5, 2024.
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