Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) released its fourth-quarter results after Thursday's closing bell. Here's a look at the details in the report.
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The Details: Petco Health and Wellness reported quarterly earnings of five cents per share, which beat the Street estimate for losses of one cent.
Quarterly revenue came in at $1.48 billion, which missed the analyst consensus estimate of $1.49 billion and is down from revenue of $1.52 billion from the same period last year.
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Petco reported the following metrics for the second quarter:
- Net sales of $1.5 billion decreased 2.3% year-over-year in line with the company’s second quarter outlook
- Comparable sales decreased 1.4% year over year
- Gross profit margin expanded approximately 120 basis points to 39.3% as a percentage of net sales
- Operating income improved $40.6 million to $43 million
“For the second quarter, we once again delivered against our commitments, enabling us to raise our earnings outlook for the full year. The first half of this year established a solid foundation for our transformation as we continued to strengthen our economic model and improve retail operating fundamentals,” said Joel Anderson, Petco’s CEO.
WOOF Stock Price: According to data from Benzinga Pro, Petco stock was up 17.96% at $3.81 in Thursday's extended trading.
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