Petco reports Q1 EPS (4c), consensus (1c)

Reports Q1 revenue $1.5B, consensus $1.5B. Comparable sales decreased 1.3% year over year. “We are pleased to deliver first quarter earnings results ahead of our guidance and to reaffirm our outlook for fiscal 2025 which now incorporates the impact of tariffs. This performance is a testament to the execution of our nearly 30,000 team members and the resilience of the category in which we operate,” said Joel Anderson, Petco’s (WOOF) Chief Executive Officer. “We entered the year with a detailed, phased strategy to strengthen retail fundamentals across our operating model and return the business to sustainable, profitable growth. The current backdrop has served as a catalyst to accelerate the work that was already underway. We are pleased with the progress we are continuing to drive, and our entire team remains focused on executing our plans and driving the performance we know this business is capable of.”