Petco Health and Wellness (WOOF) tumbles 18% as as earnings disappoint due to consumer headwinds

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Go back to Petco Health and Wellness (WOOF) tumbles 18% as as earnings disappoint due to consumer headwinds

Petco Health + Wellness Company, Inc. Reports Third Quarter Earnings

November 29, 2023 7:00 AM EST

Q3 2023 Operating Results

Comparable sales flat year-over-year and increased 4.1 percent on a two-year basis Net revenue of $1.49 billion decreased 0.5 percent year-over-yearGAAP net loss of $1.2 billion, or $(4.63) per share, reflecting a $1.2 billion non-cash goodwill impairment charge associated with goodwill originally recorded in 2015, compared to GAAP net income of $19.9 million, or $0.07 per share in the prior year Adjusted Net Income1 decreased $44.5 million to $(14.5) million Adjusted... More