Petco Shares Surge on Profit Beat and Second Consecutive Quarter of Sales Growth

Source Summary

Petco Health & Wellness Co. shares rose as much as 14% in postmarket trading after reporting profit above Wall Street expectations. The pet supply retailer achieved comparable sales growth for the second consecutive quarter, reversing a year of prior declines. The company's Services and Auto-Ship sales also grew during the period.

Why it matters

The results demonstrate Petco's successful turnaround after a year of declining sales, signaling improved operational performance and investor confidence in the company's strategy.

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• Bloomberg ↗