Petco Q4 Loss Narrows

(RTTNews) - Petco (WOOF), on Wednesday reported fourth-quarter net loss of $2.58 million or $0.01 per share, compared to $13.84 million or $0.05 per share last year.

Net sales for the quarter were $1.52 billion, compared to $1.55 billion last year.

The Company closed 7 net stores, ending the year with 1,382 stores.

Sabrina Simmons, Chief Financial Officer of Petco, added, "Petco once again delivered on our commitments while building a stronger foundation, improving profitability and cash generation through our economic model. These results enabled significant progress in achieving our goal of lowering our leverage ratio1 from 4.2X when we entered the year to 3X at the end of 2025. As we enter this next phase of growth, we see ongoing opportunity to improve our financial strength."

Looking forward, the company expects first-quarter net sales to be down 1% to flat year over year and full-year net sales to be flat to up 1.5% year over year.