Petco Q1 net sales down 2.3% to $1.5B; net loss improves to $11.7M; reaffirms FY2025 outlook

Petco Health & Wellness Company, Inc.

2025-Q1 EPS reported -$0.04 revenue$1,493,399,000

Net sales $1.5B, down 2.3% YoY; comparable sales -1.3%; gross margin +30bps to 38.2%.
Operating income improved $33.1M to $16.4M; GAAP net loss improved $34.8M to $11.7M.
Adjusted EBITDA rose $13.8M to $89.4M, ahead of guidance.
Q2 2025 outlook: net sales down low single digits YoY; Adj. EBITDA $92-$94M.
FY2025 outlook reaffirmed: Adj. EBITDA $375-$390M; capex $125-$130M; assumes tariffs at current levels.

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