Petco Posts Better-Than-Expected Q1 Earnings Despite Revenue Decline
Wednesday, 22 May 2024, 17:32
Petco Stock Surges on Earnings Beat
Petco's stock soared after exceeding analysts' expectations in its first-quarter earnings report.
Petco Faces Revenue Decline
Despite positive results, Petco revealed declining revenue and profit margin in Q1.
Focus on Sustainable Growth
Under interim CEO Mike Mohan, Petco aims to reposition the business for sustainable and profitable growth.
Key Highlights:
- Revenue fell 1.7% in Q1 but beat analysts' estimates.
- Adjusted EBITDA and earnings per share decreased compared to the previous year.
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