Petco Health And Wellness Company Inc ( (WOOF) ) has released its Q4 earnings. Here is a breakdown of the information Petco Health And Wellness Company Inc presented to its investors.
Petco Health and Wellness Company, Inc. is a leading provider of pet care products and services, operating in the health and wellness sector with over 1,500 pet care centers across the U.S., Mexico, and Puerto Rico. The company is known for its comprehensive pet wellness offerings and commitment to enhancing the bond between pets and their owners.
In its latest earnings report, Petco announced a decrease in net revenue for both the fourth quarter and full year 2024, attributed partly to the absence of an extra week in the previous fiscal year. Despite this, the company saw a slight increase in comparable sales and a reduction in net loss compared to the previous year, indicating some operational improvements.
Key financial metrics from the report include a 7.3% year-over-year decrease in net revenue for Q4 2024 to $1.6 billion, with a gross profit of $589.3 million. For the full year, net revenue decreased by 2.2% to $6.1 billion, while the GAAP net loss was significantly reduced to $101.8 million from $1.3 billion the previous year, which had included a substantial goodwill impairment charge. The company also reported an adjusted EBITDA of $336.5 million for the year, down from $401.1 million in 2023.
Looking ahead, Petco’s management is optimistic about achieving double-digit adjusted EBITDA growth in 2025. The company plans to continue refining its operations and strategic initiatives to drive sustainable profitable growth, despite expecting a slight decline in net revenue. This forward-looking approach aims to strengthen Petco’s position in the competitive pet care market.