Emerges as Privately Held Company Backed by Retriever LLC Company Enters Next Phase of Growth with Strengthened Balance Sheet SAN FRANCISCO, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Wag! Group Co. (the “Company” or “Wag!”), which strives to be the number one platform for service, product, and wellness needs of the modern U.S. pet household, today announced it has successfully emerged from Chapter 11 bankruptcy following the U.S. Bankruptcy Court for the District of Delaware’s confirmation of its pre-packaged Plan ...

Core Viewpoint - Berger Montague is investigating potential securities law violations involving Petco Health and Wellness Company, with a class action lawsuit filed for investors who acquired Petco securities between January 14, 2021, and June 5, 2025 [1][2] Group 1: Legal Action and Allegations - A class action lawsuit has been initiated on behalf of investors who purchased Petco securities during the specified Class Period [1][2] - The complaint alleges that Petco made materially false and misleading statements regarding its pandemic-related advantages and the sustainability of its premium pet food business model [3] - It is claimed that the Company overstated its ability to achieve profitable growth while downplaying operational challenges, leading to significant stock price declines [3] Group 2: Stock Performance Impact - Petco's stock price experienced a drop of over 20% on August 24, 2023, following a downward revision of its financial guidance [3] - Further declines in stock price occurred after subsequent disclosures and changes in leadership [3]

PHILADELPHIA, Aug. 25, 2025 /PRNewswire/ -- Berger Montague is investigating potential securities fraud claims on behalf of investors in Petco Health and Wellness Company, Inc. ("Petco" or the "Company") (NASDAQ: WOOF) related to a recently filed class action lawsuit.Petco, headquartered in San Diego, CA, is a health and wellness company focused on enhancing the lives of pets and pet parents.The complaint alleges that Petco made materially false and misleading statements regarding its pandemic-related growt ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Petco Health and Wellness Company, Inc. securities between January 14, 2021, and June 5, 2025, of the upcoming lead plaintiff deadline on August 29, 2025, for a class action lawsuit [1]. Group 1: Class Action Details - Investors who purchased Petco securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and those wishing to serve as lead plaintiff must act by August 29, 2025 [3]. - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. Group 2: Case Allegations - The lawsuit alleges that throughout the Class Period, Petco's management made false and misleading statements regarding the sustainability of its pandemic-related growth and the viability of its business model focused on premium pet food [5]. - It is claimed that the strength of Petco's differentiated product strategy was overstated, and the true scope of issues affecting the company was downplayed [5]. - The lawsuit asserts that these misleading statements led to an overestimation of Petco's ability to achieve sustainable, profitable growth, resulting in investor damages when the truth was revealed [5].

Core Viewpoint - Berger Montague is investigating potential securities law violations involving Petco Health and Wellness Company, with a class action lawsuit filed for investors who acquired Petco securities between January 14, 2021, and June 5, 2025 [1][2]. Group 1: Legal Action and Allegations - A class action lawsuit has been initiated on behalf of investors who purchased Petco securities during the specified Class Period [1][2]. - The complaint alleges that Petco made materially false and misleading statements regarding its pandemic-related advantages and the sustainability of its premium pet food business model [3]. - It is claimed that Petco overstated its ability to achieve profitable growth while downplaying operational challenges, leading to significant stock price declines, including a drop of over 20% on August 24, 2023, after a downward revision of financial guidance [3]. Group 2: Investor Information - Investors who acquired Petco securities during the Class Period have until August 29, 2025, to seek appointment as lead plaintiff representative of the class [2]. - For more information regarding the legal action, investors can contact Berger Montague [4][6].

Financial Data and Key Metrics Changes - The company reported a net sales decline of 10.2% in Q3, with organic sales decreasing by 11.1% when excluding foreign currency benefits [20][34] - Adjusted EBITDA was $76.6 million, a decrease of $29.7 million year-over-year, primarily due to lower sales volumes and reduced gross margins [35][36] - Gross margins contracted by 110 basis points to 37.8%, driven by unfavorable mix, tariffs, and inflation [21][35] Business Line Data and Key Metrics Changes - Global Pet Care reported a net sales decrease of 9.6%, with organic sales down 11.4%, primarily due to targeted stop shipments during tariff-related pricing negotiations [38][39] - Home and Garden net sales decreased by 10.3%, negatively impacted by a cold and wet start to the season [46] - Home and Personal Care saw a reported net sales decline of 10.8%, with organic sales also down 11.4%, driven by softness in personal care and home appliance categories [52][53] Market Data and Key Metrics Changes - The overall North American Companion Animal category declined in the low single digits, while European consumer sentiment weakened, impacting sales [40][45] - In Latin America, organic net sales grew in the low double digits, predominantly in the chews category [41] - The Home and Garden category experienced lower total sales, but Spectracide gained market share in pest control products [47] Company Strategy and Development Direction - The company is focused on protecting its balance sheet and maintaining a nimble stance during volatile times, with a target of approximately $160 million in free cash flow for the fiscal year [26][60] - There is an ongoing effort to diversify the supplier base and develop non-Chinese sourcing alternatives to mitigate tariff impacts [16][17] - The company is actively pursuing M&A opportunities to accelerate growth in its pet and home and garden businesses, while maintaining a disciplined approach to capital allocation [29][83] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming near-term tariff-related volatility and emphasized the importance of making difficult decisions for long-term health [19][66] - There are signs of improving macroeconomic conditions, with expectations for consumer confidence to stabilize as geopolitical tensions subside [65][66] - The company anticipates a strong start to Q4, with improved sales performance and positive momentum in the Home and Garden division [23][66] Other Important Information - The company executed cost reduction activities, expecting to reduce costs by over $50 million in fiscal 2025 [15] - Share repurchases totaled approximately 900,000 shares during Q3, with a total of about 4 million shares repurchased since the HHI transaction [31] - The company is streamlining its global business and reducing fixed costs while diversifying its sourcing footprint [59] Q&A Session Summary Question: How much sales were left on the table by stopping shipments in Q2, and what impact lingers into Q4? - The estimated sales left on the table in Q3 is around $30 million, with a significantly lower impact expected in Q4 [72] Question: Why is guidance still difficult despite improved clarity on tariffs? - The company emphasized the complexity of the situation, noting that Q3 results were distorted due to significant operational changes and tariff impacts, making it challenging to provide accurate guidance [75][76] Question: Can you discuss your capital allocation strategy in a soft consumer environment? - The company believes the market is undervalued and plans to continue share repurchases while pursuing M&A opportunities to grow its pet and home and garden businesses [82][83]

Fiscal 2025 Third Quarter Earnings Call August 7, 2025 Hex: #CAE8FA RGB: 202-232-250 Hex: #565656 RGB: 86-86-86 Hex: #192D53 RGB: 25-45-83 Hex: #67AE3E RGB: 103-174-62 Hex: #0066B3 RGB: 0-102-179 Hex: #BCBEC0 RGB: 188-190-192 Hex: #808285 RGB: 128-130-133 Hex: #333333 RGB: 51-51-51 Hex: #00C0F3 RGB: 0-192-243 RGB: 0-192-243 • Introduction – Joanne Chomiak Senior Vice President, Tax and Treasury • CEO Overview – David Maura Chairman and Chief Executive Officer Hex: #CAE8FA RGB: 202-232-250 Hex: #565656 RGB: ...

Core Insights - Chewy, Inc. (CHWY) and Central Garden & Pet Company (CENT) are key players in the pet care industry, each with unique operational models and growth strategies [1] - Chewy focuses on e-commerce and customer engagement, while Central Garden & Pet emphasizes a diversified portfolio and operational efficiency [1] Chewy, Inc. (CHWY) - Chewy reported net sales of $3.12 billion in fiscal Q1 2025, an 8.3% year-over-year increase, exceeding guidance [2] - The Autoship program generated $2.56 billion in sales, accounting for 82% of total net sales, with a 14.8% year-over-year growth [3] - Active customer base grew by 3.8% year-over-year to 20.8 million, with net sales per active customer rising 3.7% to $583 [4] - Chewy Vet Care operates 11 clinics and plans to open 8-10 more in fiscal 2025, while the Chewy+ membership program shows early success [5] - Adjusted EBITDA margin for Q1 was 6.2%, but management expects a decline due to seasonality and increased marketing investments [6] - Marketing expenses reached $193.8 million, or 6.2% of sales, projected to rise to 6.7-6.8% for the year [7] Central Garden & Pet Company (CENT) - CENT's adjusted gross margin improved by 200 basis points to 33.3% in Q2, reflecting strong cost management [9][13] - E-commerce accounted for 27% of Pet segment sales, driven by new products and digital strategies [14] - The company opened a 300,000-square-foot distribution center in New Jersey, enhancing fulfillment capabilities [12] - Financially, CENT ended Q2 with $517 million in cash and no borrowings, maintaining a net leverage ratio of 1.7X [15] - The consensus estimate for CENT's fiscal 2025 sales suggests a year-over-year decline of 1.7%, while EPS is expected to grow by 17.8% [20] Comparative Analysis - Chewy's shares gained 1% over the past three months, while CENT's stock rose 19.6%, driven by strong margin expansion and cost execution [21] - Chewy's forward price-to-sales (P/S) multiple is 1.20, while CENT's is 0.85, indicating a more attractive valuation for CENT [22][23] - Central Garden & Pet is viewed as a better investment due to disciplined cost management and consistent margin expansion, while Chewy faces near-term challenges [26][27]

Company Overview - Rover is the world's largest online marketplace for pet care, founded in 2011 and based in Seattle, Washington, connecting pet parents with pet care providers across 16 countries [8] - Mad Paws, founded in 2015, operates Australia's leading online pet ecosystem, facilitating over 400,000 transactions in 2024 and supporting over 300,000 active pet parents and 70,000 registered pet care providers [2][10] Acquisition Details - Rover has entered into a Scheme Implementation Deed (SID) to acquire 100% of Mad Paws shares, marking Rover's first entry into the Australian market [1][4] - The proposed acquisition values Mad Paws at approximately A$62 million, with shareholders set to receive A$0.14 per share in cash [4] - The transaction includes approximately A$13 million in cash proceeds from the planned sale of Mad Paws' Pet Chemist business [4] Strategic Implications - The acquisition is seen as a pivotal moment for Rover's international growth, with Australia representing a significant market opportunity worth approximately A$30 billion [3] - Mad Paws will continue to operate under its own brand in Sydney, led by its current CEO, Justus Hammer, post-acquisition [3][6] Approval and Conditions - The transaction is subject to several conditions, including the completion of the divestment of Mad Paws' Pet Chemist business, Australian Foreign Investment Review Board approval, and approvals from Mad Paws shareholders and the Australian court [6]

Investment Rating - The report indicates a mixed investment outlook for the consumer sector in China, with a preference for new consumer names that can deliver unique growth amidst demand uncertainties, while mature names face investor concerns due to fluid overall demand [2][12]. Core Insights - The overall consumption trend in China appears unexciting for 2Q25, with sequentially softer trends observed across multiple sectors, including spirits, dairy, sportswear, cosmetics, condiments, and prepared food, despite resilient headline numbers supported by trade-in policies [1][35]. - There is a divergence in stock preferences, with investors favoring new consumer brands that show strong growth potential, while mature brands are under scrutiny due to demand fluctuations [2][12]. - Structural growth opportunities are expected to drive stock outperformance in sectors such as sports brands, diversified retailers, pet food, beverages, and restaurants, while sectors like apparel, footwear OEM, and furniture remain less favored [2][3]. Summary by Sections Demand Trends - Sales trends are softening in 2Q25, with headline growth numbers steady due to trade-in policy support, but multiple consumer subcategories indicate fluid demand [35][37]. - Categories benefiting from subsidy support, such as appliances and freshly made drinks, show solid performance, while spirits and high-end restaurants face headwinds from anti-extravagance policies [38][39]. Pricing Dynamics - Emerging pricing risks are noted across various sectors, with increased competition leading to deeper discounts, particularly in the automotive and sportswear sectors [43][44]. - The report highlights a trend of rational spending among consumers, leading to weaker average selling prices (ASP) across multiple categories [30][43]. Sector Performance - The report outlines expected revenue and net income growth for new consumer names to outperform older ones from 2025 to 2027, driven by structural growth opportunities [12][21]. - Specific sectors such as pet care and freshly made drinks are highlighted for their robust growth potential, while traditional categories like spirits and dairy face challenges [11][21]. Future Outlook - The outlook for 2H25 suggests cautious optimism, with expectations of easier comparisons and continued support from trade-in policies, although growth pressures remain due to high bases and macroeconomic conditions [35][39]. - The report emphasizes the importance of overseas expansion and product innovation as key themes for future growth, particularly for companies looking to penetrate lower-tier cities and international markets [31][34].