Petco Announces Completion of Refinancing and Glenn Murphy's Transition to Chairman

Core Insights - Petco has successfully closed a long-term debt refinancing, enhancing its financial flexibility and reducing leverage [1][2] - Glenn Murphy transitions from Executive Chairman to Chairman of the Board, effective February 1, 2026, marking a strategic leadership change [1][2] - The company has improved its economic model and retail operating fundamentals, leading to better profitability and cash flow [2] Company Overview - Petco has been a leading retailer for pet supplies for over 60 years, operating more than 1,500 stores across the U.S., Mexico, and Puerto Rico [3] - The company emphasizes the importance of the pet-human bond and offers a wide range of products and services, including exclusive pet care items and expert support [3] - Petco Love, founded in 1999, has supported local animal welfare groups and facilitated the adoption of over 7 million animals [3]