Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessPetco Health and Wellness Plunges 26 percent on Disappointing Q3 Earnings

Petco Health and Wellness Plunges 26 percent on Disappointing Q3 Earnings

Add to Favorite
Added to Favorite


Shares of Petco Health and Wellness (NASDAQ:WOOF) saw a significant drop of more than 26% intra-day today following the company’s earnings report for its latest quarter, which fell short of market expectations.
The pet retailer posted a third-quarter earnings per share (EPS) of negative $0.05, compared to the analysts’ predictions of a positive $0.02 EPS. The revenue for the quarter was reported at $1.49 billion, a slight decrease of 0.5% year-over-year, and also below the expected $1.51 billion.
Despite the overall downturn, the company did report some positive segments. Its consumables business showed a growth of 1.8% compared to the previous year, and its services and other business segments grew by 15% year-over-year. However, these gains were partly negated by an 8.8% drop in its supplies and companion animal business compared to the previous year.
These disappointing results occur as Petco navigates through a tough consumer market. The company has stated its commitment to improving performance by expanding its market appeal and managing costs and capital more efficiently.
For the fiscal year 2024, Petco anticipates earnings of $0.08 per share, which is considerably lower than the Street estimate of $0.27. The projected revenue for 2024 is expected to be between $6.15 billion and $6.275 billion, close to the consensus projection of $6.25 billion.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Walmart introduces virtual and AI-powered shopping for web fans, CWEB reports

Walmart (WMT), the leading retailer in North America, has...

Wayfair Inc. (NYSE:W) Q3 2024 Earnings Report Highlights

Wayfair reported an earnings per share (EPS) of -$0.60,...

LyondellBasell Industries N.V. (NYSE:LYB) Faces Financial Challenges Despite Strong Market Presence

LyondellBasell Industries N.V. (NYSE:LYB) reported earnings per share (EPS)...

Brunswick Corporation (NYSE: BC) Faces Market Challenges Despite Strong Product Range

Brunswick Corporation (NYSE:BC) reported third-quarter earnings per share (EPS)...