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

Petco Health and Wellness Company (Nasdaq: WOOF) announced its participation in the BofA Securities 2022 Consumer and Retail Technology Conference on March 9, 2022, at 9:40 a.m. Eastern Time. The event will feature a live audio webcast available on Petco's investor relations page, with a replay accessible until March 23, 2022. Established in 1965, Petco operates over 1,500 locations across the U.S., Mexico, and Puerto Rico, and offers numerous health and wellness services for pets. The company emphasizes its commitment to improving pet care and supporting local animal welfare organizations.

Petco Health and Wellness Company (Nasdaq: WOOF) announced strong financial results for Q4 and fiscal year 2021, with Q4 net revenue rising 13% to $1.5 billion and net income reaching $29.0 million, or $0.11 per share. Full-year revenue was up 18% to $5.8 billion, and net income improved to $164.4 million, or $0.62 per share. Adjusted EBITDA for Q4 increased 16% to $172.2 million, while net debt decreased to $1.5 billion. The company provided guidance for fiscal 2022, expecting net revenue between $6.15 billion and $6.25 billion.

Petco Health and Wellness Company (WOOF) announces enhancements to its Vital Care membership program, now available for $19.99 per month. The program includes benefits valued at $320 to $404 annually, such as $15 monthly Pals Rewards, 20% discounts on grooming and litter, and discounts on veterinary exams. With nearly 160,000 pets enrolled, Petco aims to provide accessible pet healthcare amid inflation. The launch of a new affiliate program will extend these benefits further, reinforcing Petco’s commitment to pet wellness.

Petco Health and Wellness Company (Nasdaq: WOOF) has announced a definitive agreement to acquire Thrive Pet Healthcare's 50% stake in their joint veterinary hospital venture. This acquisition will allow Petco to integrate nearly 100 veterinary hospitals into its network, transitioning them to the Vetco Total Care brand. The transaction is expected to enhance Petco's veterinary services, with over 800 professionals joining its workforce. The deal aims to support Petco's mission of delivering comprehensive pet care, and is projected to close in Q2 2022.

Petco (Nasdaq: WOOF) has announced an agreement to acquire Thrive Pet Healthcare's 50% stake in their joint veterinary hospital venture, enhancing its portfolio of nearly 100 veterinary hospitals across 14 states. The transition will integrate the THRIVE brand into Petco's Vetco Total Care branding, expanding Petco's veterinary services. Over 800 veterinary professionals will join Petco, aiming to improve accessibility to pet healthcare. The transaction is set to close in Q2 2022, focusing on the company’s ongoing commitment to holistic pet care.

Petco Health and Wellness Company (Nasdaq: WOOF) will hold its inaugural 2022 Investor Day on March 23, 2022, at 8 a.m. EST. The event, projected to last about 4.5 hours, will be available via live webcast on the company’s Investor Relations page. During the Investor Day, organizational leaders will present insights into Petco's strategic focus and operational performance for 2022 and beyond. Recordings will be accessible 24/7 until June 23, 2022, via the same platform.

Petco Health and Wellness (Nasdaq: WOOF) has expanded its partnership with JustFoodForDogs to enhance its leadership in the premium fresh and frozen pet food category. This collaboration aims to co-develop a new human-grade pet food line under Petco's WholeHearted brand, and extend JustFoodForDogs offerings to over 1,000 Petco locations by year-end 2022. This strategic move is expected to capitalize on the fresh frozen pet food market, projected to grow from $1 billion to $4 billion by 2025. Petco aims to provide fast access to fresh, human-grade pet food through multiple purchasing options.

Petco Health and Wellness Company (Nasdaq: WOOF) announced the appointment of Amy College as Chief Merchandising Officer, effective February 13, 2022. College, who joined Petco in September 2019, will oversee the company's global merchandising strategy and join the Executive Committee. She succeeds Nick Konat, who is leaving the company. Petco CEO Ron Coughlin highlighted College's significant role in Petco's transformation and expressed confidence in her ability to strengthen the company's market position and product assortment.

Petco Health and Wellness Company (Nasdaq: WOOF) has partnered with Rover.com (Nasdaq: ROVR) to enhance pet care services available to customers. The collaboration integrates Rover's offerings, including pet sitting, boarding, and dog walking services, into Petco's ecosystem, accessible via their website. New users can benefit from a $10 discount, while members of Petco's Vital Care program will receive a $20 discount starting in Spring 2022. This partnership aims to serve the growing number of pet owners, with over 130,000 active Vital Care members as of October 2021.