Petco Health and Wellness reported first-quarter 2026 results on June 3, with comparable sales rising 0.7%, the first positive comp in five quarters. Net sales edged up 0.2% to $1.5 billion, gross margin expanded 21 basis points to 38.4%, and operating income jumped 50.5% to $24.6 million. Adjusted EBITDA reached $97.3 million, up from $89.4 million a year earlier, while net loss widened to $15.1 million from $11.7 million. CEO Joel Anderson said the results validate the company's strategy, and Petco reaffirmed its full-year adjusted EBITDA guidance of $415 million to $430 million. Following the report, Goldman Sachs raised its price target to $4.14 from $3.83 with a Neutral rating, Evercore ISI lifted its target to $3.50 from $3 with an In Line rating, and Citi lowered its target to $3.25 from $4 while maintaining Neutral.
Evercore Partners Inc
Goldman Sachs Group IncPetco Health and Wellness Company, Inc.Petco reported first positive comparable sales in five quarters, improved margins, and reaffirmed guidance.
Citigroup Inc.