Petco Health and Wellness Company Inc. reported its financial results for the first quarter of 2025, indicating a net sales figure of $1.5 billion, which marks a 2.3% decrease compared to the same period last year. Comparable sales decreased by 1.3% year over year. The company's gross profit margin expanded by approximately 30 basis points, reaching 38.2% as a percentage of net sales. Operating income saw a positive change, improving by $33.1 million to reach $16.4 million. The GAAP net loss improved by $34.8 million, resulting in a net loss of $11.7 million for the quarter. Adjusted EBITDA increased by $13.8 million, totaling $89.4 million. Petco reaffirmed its full year 2025 net sales and earnings outlook and provided guidance for the second quarter of 2025. The company stated that its guidance assumes consistent economic conditions, currency rates, and tax and regulatory landscapes, with tariffs on imports into the U.S. remaining at June 5, 2025 levels. The company emphasized its commitment to executing its strategic plans and achieving sustainable, profitable growth.
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