Petco Health and Wellness Company Inc. is confident that shoppers will keep spending on their pets even amid inflation and other economic challenges.
The specialty pet retailer unveiled its longer-term financial framework, as well as its strategic and capital priorities, in the warm-up to its annual Investor Day. Long-term, Petco expects revenue growth in the high single digits and adjusted net income growth in the low single digits. Petco is also reaffirming its fiscal year 2022 guidance, including net revenue of $6.15 – $6.25 billion and adjusted earnings per share of $0.97 – $1.
The company is also testing what it calls “small town rural” store concepts in key strategic locations and driving brand awareness and penetration in low-share markets.Chain Store Age