Stock Track | Petco Health and Wellness Soars 11.11% in Pre-Market on Earnings Beat and Raised Guidance

Stock Track11-26

Petco Health and Wellness Company, Inc. (WOOF) saw its shares surge 11.11% in pre-market trading following the release of its better-than-expected third-quarter earnings and an upward revision of its full-year guidance.

The pet retailer reported earnings per share of $0.03, surpassing analyst estimates of $0.00, and demonstrated improved profitability with a gross margin increase of 0.8 percentage points to 38.9%. Operating income also rose by $25.2 million to $29.2 million. Investors reacted positively to the company's raised earnings outlook, which signals confidence in its ongoing turnaround strategy.

Additional optimism stems from Petco's strategic initiatives, including plans to close about 20 stores in fiscal 2025 to optimize its retail footprint. Despite a 3.1% year-over-year revenue decline, the market appears to be betting on the company's ability to drive long-term growth in the competitive pet care sector.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment