PetMed Express reports Q1 EPS 18c,two estimates (9c)

Reports Q1 revenue $68M, one estimate $75M…”Q1 FY’25 results reflect a transition quarter as we position the Company for future profitable growth by optimizing our cost structure and leaning into our many customer-centric attributes. During the first quarter, we saw a changeover of the CEO and other key executives,” said Sandra Campos, CEO & President. “May marked my first full month in the CEO role, and in May and June we added a new Chief Marketing Officer, Chief Operating Officer and Chief Digital and Technology Officer, along with two new board members. As mentioned during the Q4 FY’24 earnings results, this new team is taking significant action in areas that will reposition PETS for growth and profitability.””To be clear, the Q1 financial results do not reflect the full impact of these improvements which began in the back half of the quarter,” Ms. Campos continued. “We have made strong progress on key cost reduction initiatives including combining and streamlining operations between PetMeds and PetCareRx, and the new team has begun to advance our customer growth strategies. We are gaining momentum and seeing early positive signs of our key leading indicators, validating our strategy to create an ecosystem of products and services for pets’ well-being and longevity.”