Petco reported Q1 net sales of $1.5 billion and 0.7% comparable sales growth, signaling recovery under its new strategy.
Petco Health and Wellness Company Inc. (NASDAQ:WOOF) reported Q1 net sales of $1.5 billion, marking a return to positive comparable sales growth of 0.7%. The results reflect progress under its “Reach for the Sky” strategy, driven by strength in consumables and services.
Gross profit rose to $574.4 million, while operating income improved despite a net loss of $15.1 million. The company reduced total debt to $1.482 billion and ended the quarter with $166.8 million in cash.
Petco reaffirmed its full-year 2026 outlook, citing stable economic conditions and ongoing cost pressures. Management emphasized retail fundamentals and profitability as key focus areas moving forward.