Chewy and Petco Earnings Make It Clear: Pet Health Care Is Their Future

At Petco, where discretionary supplies and companion animals account for about 38% of sales, the category suffered a 9% decline for the full year, the company said.A Petco store in Louisville, Kentucky, U.S., on Tuesday, Aug. 23, 2022.

"Off-price retailers have a really good category and those categories continue to grow," she told CNBC."A puppy that was, you know, adopted or bought, during 2020 is now three years old. As they get older, they're only going to require more health care," said Anna Andreeva, a senior equity research analyst and managing director at Needham and Company."And I think both companies are being smart in developing those verticals.

The two companies share many similarities in the items that they sell and the customers they cater to but have taken different approaches to pet health. Petco hasn't faced the same issues because they haven't yet branched into telehealth, and all of their veterinarians practice in physical locations. However, it will take some time before the hospitals are profitable.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Chewy stock dips as earnings show shrinking customer count, forecast of no profit growthChewy shares declined in late trading after executives reported a surprise holiday profit but a shrinking customer count and disappointing profit guidance. street has lost their ever loving minds BUY BUY BUY OVERSOLD THIS STOCK WILLL BE 50+ BY YEARS END BANK IT
Källa: MarketWatch - 🏆 3. / 97 Läs mer »

Stocks making the biggest moves premarket: Coinbase, AMC, Chewy, First Republic and moreThese are the stocks posting the largest moves in premarket trading.
Källa: CNBC - 🏆 12. / 72 Läs mer »