Petco is prospected by companies that are selling Logistics and supply chain services, Procurement, Sourcing, Sustainability, Distribution Marketing, Education, SMM and other solutions. These are a few quick insights about Petco that you might find valuable in your outreach.
Petco Health + Wellness Company, Inc. Reports First Quarter Earnings and Reaffirms Full Year 2023 Guidance
Intel type: Investment, Fund Raises & Finance
Date: 24 May 2023
In the first quarter of 2023, Petco delivered net revenue of $1.56 billion, up 5.4 percent versus prior year, driven by strength in the company’s consumables business, up 11.2 percent versus prior year, and services and other business, up 25.4 percent versus prior year. First quarter revenue growth was partially offset by the company’s supplies and companion animal business, down 7.6 percent versus prior year. Net loss was $1.9 million or $(0.01) per share, driven primarily by a $0.05 per share increase in interest expense year-over-year, compared to net income of $24.7 million or $0.09 per share in the prior year. Adjusted Net Income1 was $14.9 million or $0.06 per share, compared to $36.3 million or $0.14 per share in the prior year. Adjusted EBITDA1 was $111.0 million compared to $119.2 million in the prior year.
In the first quarter of 2023, Petco paid down $35 million in principal on its term loan. In May 2023, Petco paid down another $25 million in principal on its term loan for a total of $60 million in principal payments year-to-date. The company continues to target a total of $100 million in principal payments for 2023 and remains committed to strengthening its balance sheet through de-levering long-term.
“We continue to execute on our strategy amidst the current environment, delivering our 18th consecutive quarter of comp sales growth in the first quarter, driven by the ongoing strength in consumables and record performance in our services business,” said Petco CEO Ron Coughlin. “We remain confident in our unique 360-degree pet wellness offering delivered through our core pillars of services, differentiated merchandise, and competitively advantaged omnichannel capabilities all powered by our incredible Petco partners. Looking ahead, we are focused on what’s within our control and capitalizing on the secular trends of the resilient pet category to drive long-term, profitable growth.”
This insight is useful for your prospecting if your business deals with: Logistics and Supply chain solutions, Customer engagement, Security, Sustainability, Digital advertising, SMM, Healthcare services
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Petco Leverages Omnichannel Retail Solution for LATAM Stores
(source: https://risnews.com/petco-leverages-omnichannel-retail-solution-latam-stores)
Intel type: Launches, Awards and Wins
Date: 07 June 2023
The pet care retailer is expanding its presence in Latin America with the implementation of a new omnichannel commerce solution across over 118 stores in Mexico and Chile.
Petco has partnered with Teamwork Commerce to roll out the new cloud-based solution, which combines various key functionalities such as point-of-sale (POS) systems, loyalty programs, and inventory control mechanisms with Petco’s CRM system and online sales platform.
other new capabilities include paperless receipt options and a streamlined checkout process that allows customers to scan a QR code to pay for multiple services at once.
Guillermo Prieto Cortes, CIO of Petco Mexico, said the integration has allowed the company to reinforce and build out its loyalty program, Club Petco. “[W]e have been able to implement real-time targeted experiences to pamper our customers both in physical stores and on the e-commerce platform,” Prieto Cortes added
This insight is useful for your prospecting if your business deals with: Omnichannel, Shipping, Customer engagement, Security, Sustainability, Digital advertising solutions, SMM and Delivery support services
Is Petco a target account for you? Get insights about Petco and 9 more accounts relevant to YOUR business, from B2Brain – set up your 14 day Free Trial from here.
