Nearly one in five American households adopted a pet during the pandemic, according to the ASPCA. Today, 60% of pet parents say they would rather spend more time with their pets than anyone else, according to a recent Petco survey; and nearly 70% are prioritizing their pets' health and preventative care as they do for themselves.SAN DIEGO, March 20, 2024 /PRNewswire/ -- Four years since the onset of COVID-19, puppies and kittens adopted during the pandemic are now entering adulthood and pets adopted as adul ...

Key TakeawaysPetco Health and Wellness Company shares fell after the company reported another loss, issued guidance that was short of estimates and changed its CEO.CEO Ron Coughlin stepped down and was replaced on an interim basis by board member R. Michael Mohan.Petco shares have lost nearly three-quarters of their value over the past year. Shares of Petco Health and Wellness Company (WOOF) slumped Wednesday as the pet products retailer and operator of veterinary clinics posted another quarterly loss, gave ...

As shoppers continue to manage their budgets amid years of financial challenges, Petco has found itself caught unaware by the extent of pet parents’ pull back, especially since this demographic was so reluctant to cut back in the first place.On a call with analysts Wednesday (March 13) discussing the retailer’s fourth-quarter and full-year fiscal 2023 financial results, R. Michael (Mike) Mohan, Petco Health and Wellness Company’s new interim CEO, spoke to this shift in shopper behaviors.“We have not adapted ...

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) Q4 2023 Earnings Conference Call March 13, 2024 8:00 AM ET Company Participants Cathy Yao - IR Mike Mohan - Interim CEO Brian LaRose - CFO Conference Call Participants Steven Forbes - Guggenheim Mark Jordan - Goldman Sachs Peter Benedict - Baird Oliver Wintermantel - Evercore ISI David Lantz - Wells Fargo Steven Zaccone - Citi Anna Andreeva - Needham Seth Basham - Wedbush Securities Kaumil Gajrawala - Jefferies Operator Good morning, and welcome to the P ...

Shares of Petco Health and Wellness Company Inc (NASDAQ:WOOF) are 7% higher to trade at $2.74, but earlier was as high as $2.71 after the pet supply retailer's fourth-quarter revenue beat Wall Street's estimates. A major C-suite change happened, too, with CEO Ron Coughlin stepping down, and Michael Mohan taking point as interim.In response to the event and update, WOOF's typically quiet options pits are seeing an uptick in activity. So far, 1,321 calls and 899 puts have been traded so far -- six times the i ...

Petco CEO, Chairman and board member Ron Coughlin stepped down from those roles Wednesday (March 13) and was succeeded by Interim CEO R. Michael (Mike) Mohan.Coughlin will support the leadership transition as an advisor to the board, while the board has tapped a global executive search firm to help it find a permanent CEO, the pet care retailer said in a Wednesday press release.“On behalf of the board, we are deeply grateful for Ron’s many contributions to Petco over the past five years,” Cameron Breitner, ...

Petco Health & Wellness (WOOF) came out with quarterly earnings of $0.02 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this pet store chain would post earnings of $0.02 per share when it actually produced a loss of $0.05, delivering a surprise of -350%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Petco, which belon ...

| --- | --- | |------------------|-------| | | | | March 13, 2024 | | Petco cautions that the foregoing list of risks, uncertainties and other factors is not complete, and forward-looking statements speak only as of the date they are made. Petco undertakes no duty to update publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority. | --- | --- | --- | --- | --- | ...

Q4 2023 Highlights Net revenue of $1.7 billion increased 6.1 percent year over year including the 14th week Comparable sales declined 0.9 percent year over year and increased 4.4 percent on a two-year basis GAAP net loss of $22.6 million, or $(0.08) per share, compared to GAAP net income of $32.7 million, or $0.12 per share in the prior year Adjusted Net Income1 of $6.1 million, or $0.02 per share, compared to $52.8 million, or $0.20 per share in the prior year Adjusted EBITDA1 of $105.3 million compared ...

R. Michael Mohan, Previously Lead Independent Director, Appointed Interim CEO Ron Coughlin stepped down as CEO, Chairman and member of the Board of DirectorsSearch Underway to Identify Permanent CEOSAN DIEGO, March 13, 2024 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced the Company's Board of Directors has appointed R. Michael (Mike) Mohan to serve as Interim Chief Executive Officer, effective today. Ron Coughlin has stepped down as Petco's Chief Executive Officer, Ch ...