Petco Steps Up Value After Being Blindsided by Deal-Seeking Behaviors

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 ...