SAN DIEGO, Feb. 26, 2024 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced that Brian LaRose, Chief Financial Officer, will participate in the UBS Global Consumer and Retail Conference on March 14, 2024. Mr. LaRose will participate in a fireside conversation at approximately 11:00 a.m. Eastern Time.  The webcast of the event will be available via the Company's investor relations page at ir.petco.com. A replay of the webcast will be archived on the Company's investor rela ...

SAN DIEGO, Feb. 13, 2024 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced it has appointed Holly May as Chief Human Resources Officer (CHRO), effective February 4. In this role, May is responsible for driving an HR strategy that delivers profitable growth and outstanding performance, and is grounded in Petco's mission to improve lives for pets, pet parents and Petco partners. “Our knowledgeable and passionate partners (employees) are Petco’s most valuable asset and diff ...

SAN DIEGO, Feb. 1, 2024 /PRNewswire/ -- On March 13, 2024, at approximately 7:00 a.m. Eastern, Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), a complete partner in pet health and wellness, will release its fourth quarter 2023 earnings results. Additionally, Petco executives will host a conference call at approximately 8:00 a.m. Eastern to review the company's financial and operating performance. The call will be webcast live and the earnings release, earnings presentation, and infographic will be a ...

Petco Health and Wellness Company, Inc. (WOOF) and Nationwide, a prominent pet insurance provider, have unveiled a customizable pet health insurance offering, which is now accessible on petco.com. This collaboration is a testament to its shared goal of delivering affordable, integrated solutions for pet health, wellness and protection, addressing the needs of a wide range of pet owners.The distinctive feature of this insurance offering is its broad coverage, extending beyond dogs and cats to include avian a ...

Petco | Nationwide pet insurance leverages Nationwide's customizable pet health insurance product within Petco's unique and fully integrated pet care ecosystem. The co-branded experience on petco.com enables visitors to build a policy that fits the individual needs of their pet and budget. Petco | Nationwide pet insurance provides essential coverage for unexpected veterinary expenses resulting from accidental injuries including broken bones, lacerations, poisoning, and other incidents. Pet parents may also ...

Financial Performance - Net sales decreased from $1.50 billion to $1.49 billion, a period-over-period decrease of 0.5%[90] - Operating loss of $1,232.1 million primarily due to goodwill impairment of $1,222.5 million, compared to operating income of $48.1 million in the prior year[90] - Net loss attributable to Class A and B-1 common stockholders was $1,241.1 million, compared to net income of $19.9 million in the prior year[90] - Adjusted EBITDA decreased from $120.2 million to $72.2 million[90] - Gross profit margin decreased to 36.8% from 39.8% in the prior year[92] - Comparable sales change was 0.0% for the thirteen weeks ended October 28, 2023, and 4.1% for the thirty-nine weeks ended[92] - Net sales decreased by $7.1 million, or 0.5%, to $1.49 billion for the thirteen weeks ended October 28, 2023, while increasing by $122.8 million, or 2.8%, to $4.58 billion for the thirty-nine weeks ended October 28, 2023[93] - Gross profit decreased by $47.7 million, or 8.0%, to $550.0 million for the thirteen weeks ended October 28, 2023, with a gross profit rate of 36.8% compared to 39.8% in the prior year[98] - Adjusted EBITDA for the thirteen weeks ended October 28, 2023, was $72.2 million, down from $120.2 million for the same period in 2022, representing a decrease of 40%[113] - Net sales for the thirty-nine weeks ended October 28, 2023, were $4.58 billion, compared to $4.46 billion for the same period in 2022, reflecting a year-over-year increase of 2.7%[113] - The company reported a net loss attributable to Class A and B-1 common stockholders of $(1.24) billion for the thirteen weeks ended October 28, 2023, compared to a profit of $19.9 million for the same period in 2022[113] Sales and Revenue Breakdown - Total net sales for the thirteen weeks ended October 28, 2023, included $1,257.8 million from products and $236.4 million from services and other[91] - Consumables sales increased by $12.8 million, or 1.8%, to $733.3 million for the thirteen weeks ended October 28, 2023, driven by additional brands in the assortment[93] - Service-related sales, including veterinary hospitals, increased by 14.0% and 14.6% for the thirteen and thirty-nine weeks ended October 28, 2023, respectively[96] - E-commerce and digital sales increased by 4.7% and 8.4% for the thirteen and thirty-nine weeks ended October 28, 2023, respectively, driven by online initiatives[96] Expenses and Cash Flow - SG&A expenses increased by $10.0 million, or 1.8%, to $559.6 million for the thirteen weeks ended October 28, 2023, representing 37.5% of net sales[99] - Interest expense increased by $9.3 million, or 33.9%, to $36.6 million for the thirteen weeks ended October 28, 2023, primarily due to higher interest rates[103] - Free Cash Flow for the thirty-nine weeks ended October 28, 2023, was $(7.8) million, compared to $(2.6) million for the same period in 2022, indicating a decline in cash generation[116] - Net cash provided by operating activities decreased to $168.7 million for the thirty-nine weeks ended October 28, 2023, from $209.5 million for the same period in 2022, driven by lower earnings and increased cash outflows[122] - Financing activities resulted in a net cash outflow of $84.0 million for the thirty-nine weeks ended October 28, 2023, compared to $27.0 million for the same period in 2022, primarily due to principal repayments on the term loan[125] Goodwill and Impairment - Goodwill impairment charge of $1.22 billion was recorded during the thirteen weeks ended October 29, 2022, due to an interim impairment test[101] - The company incurred $1.22 billion in goodwill impairment during the thirteen weeks ended October 28, 2023, which significantly impacted net income[113] Liquidity and Debt - The liquidity position as of October 28, 2023, was $586.4 million, which includes cash and cash equivalents of $139.8 million and $446.6 million available on the ABL Revolving Credit Facility[118] - As of October 28, 2023, the Company had $1,595.3 million outstanding under the First Lien Term Loan[141] - A 100 basis points increase in variable rates on the First Lien Term Loan and ABL Revolving Credit Facility would increase annual cash interest by approximately $16.2 million[142] - The Company has no amounts outstanding under the ABL Revolving Credit Facility as of October 28, 2023[142] - The Company maintains cash and cash equivalents at major financial institutions, likely exceeding insured limits, with minimal credit risk[144] Business Operations - Total pet care centers at the end of the period remained stable at 1,429[92] - Total veterinarian practices increased to 282 from 229 in the prior year[92] - The company operates over 275 veterinary hospitals, contributing to the growth in its veterinary and grooming business[95] Taxation - The effective tax rate was 1.8% for the thirteen weeks ended October 28, 2023, resulting in an income tax benefit of $22.9 million, compared to an effective tax rate of 17.3% in the prior year[106] Market Conditions - Substantially all business is conducted in U.S. dollars, with no material effect expected from a 10% fluctuation in the relative value of the U.S. dollar[145]

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) Q3 2023 Earnings Call Transcript November 29, 2023 8:00 AM ET Company Participants Benjamin Thiele-Long - Vice President of Corporate Communications Ron Coughlin - Chief Executive Officer Brian LaRose - Chief Financial Officer Conference Call Participants Oliver Wintermantel - Evercore ISI Peter Benedict - Robert W. Baird Simeon Gutman - Morgan Stanley Steven Zaccone - Citigroup Michael Lasser - UBS Steven Forbes - Guggenheim Securities Anna Andreeva - N ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39878 Petco Health and Wellness Company, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction ...

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) Q2 2023 Earnings Call Transcript August 24, 2023 8:00 AM ET Company Participants Cathy Yao - VP of IR Ron Coughlin - CEO Brian LaRose - CFO Conference Call Participants Oliver Wintermantel - Evercore ISI David Lance - Wells Fargo Simeon Gutman - Morgan Stanley Anna Andreeva - Needham & Company Steven Forbes - Guggenheim Seth Basham - Wedbush Securities Michael Lasser - UBS Steven Zaccone - Citi Greg Sommer - Gordon Haskett Operator Good morning, everyone ...

● • Petco cautions that the foregoing list of risks, uncertainties and other factors's not complete, and forward-looking statements speak only as of the date they are made. Pe publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable/aw, regulation o authority. SAFE HARBOR AND NON-GAAP MEASURES 2 Second Quarter KEY TAKEAWAYS ► Sales and comp growth up 3% y/y ► 19th consecutive quarter of comp sales growth and 13th ...