With sales continuing to slide, Petco is launching a three-pronged strategy to engage pet parents. The pet care and pet supply retailer released earnings Wednesday (May 22) showing net revenue of $1.5 billion, a 1.7% decline since the same quarter in 2023. While Petco’s consumables business rose 0.1% and...
As shoppers continue to manage their budgets amid years of financial challenges, Petco has found itself caught unaware by the extent of pet parents’ pull back, especially since this demographic was so reluctant to cut back in the first place. On a call with analysts...
Petco CEO, Chairman and board member Ron Coughlin stepped down from those roles Wednesday (March 13) and was succeeded by Interim CEO R. Michael (Mike) Mohan. Coughlin will support the leadership transition as an advisor to the board, while the board has tapped a global...
With pet parents proving to be a digitally engaged group, often willing to splurge, DoorDash is seizing on the on-demand delivery opportunity to expand consumers’ adoption of its retail offerings. The nation’s leading aggregator announced Tuesday (Feb. 27) a same-day delivery partnership with Pet Supplies...
May 26, 2023
As ongoing macroeconomic challenges put pressure on consumers’ grocery shopping budgets, many are turning to lower-quality goods to save on cost, but few are willing to subject their pets to the same treatment. By the Numbers According to data from the latest installment of PYMNTS’ Consumer Inflation Sentiment series, “Consumer Inflation Sentiment Report: Consumers Cut […]
April 12, 2023
The subscription bubble that formed during the pandemic is bursting in slow motion as consumers continue trimming their streaming entertainment and retail subscriptions one by one, as is also true...
January 02, 2023
It’s been a year of transitions for the subscription business, creating question marks for 2023. Invoking “the great unsubscribe” became commonplace in 2022 as inflation-beset consumers had to pick and...
December 19, 2022
Embracing platform efficiencies, Petco is serving deeper needs among growing ranks of pet parents. Pets have moved from the outside doghouse to inside the human house to hopping up on...
July 17, 2024
Petco has named former Five Below CEO Joel D. Anderson as its new CEO and a member of its board of directors, effective July 29. This announcement from the pet care retailer comes a day after Five Below said that it had begun a leadership transition, with Anderson stepping down from his roles of president […]
May 22, 2024
With sales continuing to slide, Petco is launching a three-pronged strategy to engage pet parents. The pet care and pet supply retailer released earnings Wednesday (May 22) showing net revenue of $1.5 billion, a...
March 13, 2024
Petco CEO, Chairman and board member Ron Coughlin stepped down from those roles Wednesday (March 13) and was succeeded by Interim CEO R. Michael (Mike) Mohan. Coughlin will support the...
August 24, 2023
Pet health and wellness company Petco announced second-quarter 2023 earnings results on Thursday (Aug. 24), showcasing strong top line results and free cash flow despite navigating a shift in consumer spending and pressures on...
