WOOF - Why Petco Stock Is Falling Today
2023-08-24 11:00:00 ET
Petco Health & Wellness (NASDAQ: WOOF) met analyst expectations for the fiscal second quarter ended July 29, it reported today, but warned its full-year numbers would come in below expectations. Investors were in no mood to stay and as a result the stock is rolling over, with shares down more than 20% on Thursday.
Petco runs a chain of more than 1,500 pet supply stores and animal wellness centers spread across the United States, Mexico, and Puerto Rico. The company earned $0.06 per share in the quarter on revenue of $1.53 billion, matching analysts' expectations.
Comparable sales were up 3.2% year over year and up 7% from two years ago.
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Why Petco Stock Is Falling Today