Petco grows by 15% in third quarter

The US pet retailer delivered net revenue of $1.4 billion (€1.24b) in the third quarter of 2021.

Net income improved by $49.3 million from prior year to $52.8 million or $0.20 per share.
Trailing twelve-month net income improved by $156.8 million from prior year to $129.3 million.

“Q3 marked our sixth consecutive quarter of double-digit growth with a 15 percent Q3 comp, lapping 17 percent a year ago, giving us confidence to raise guidance for Full Year 2021,” said Ron Coughlin, Chairman and CEO of Petco. “Our focus on long-term, sustainable growth is powered by continued execution against our transformation, with one of the fastest veterinary expansions in history, further enhancement of our digital competitive advantages, expansion of our merchandise differentiation through powerful owned and exclusive brands, and our incredible Petco Partners who are improving more and more pet lives every single day in a challenging environment.”