secwatch.observer — SEC 8-K summary
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Issuer:     Petco Health & Wellness Company, Inc. (WOOF)
CIK:        0001826470
Form:       8-K
Filed at:   2024-05-22T23:59:59+00:00
Accession:  0000950170-24-063278
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Petco reports Q1 net loss of $46.5M; revenue down 1.7% YoY to $1.5B
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- GAAP net loss of $46.5M ($0.17 per share) vs. prior year loss of $1.9M ($0.01 per share).
- Adjusted net loss of $11.8M ($0.04 per share) vs. prior year income of $14.9M ($0.06 per share).
- Adjusted EBITDA fell to $75.6M from $111.0M; operating cash flow was negative $8.4M.
- Comparable sales declined 1.2% YoY; supplies and companion animal down 6.8%, services up 4.2%.
- Interim CEO Mike Mohan cites focus on retail fundamentals and cost transformation to restore profitability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826470/000095017024063278/0000950170-24-063278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826470/000095017024063278/woof-20240522.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-063278

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