Overview

• The pet retailer reported $3.1 billion in quarterly revenue and $141 million in net income.
• Shares closed down 16.6% the day the results were discussed, trimming a previously reported 7.8% year-to-date gain.
• Cramer said the numbers were not as bad as sellers assumed and highlighted recurring revenue, calling the stock a very interesting level to buy.
• He praised CEO Sumit Singh’s performance and recalled Singh previously calling a bottom on Mad Money.
• The latest report was described as showing 8.6% year-over-year sales growth, gross margin expansion of 90 basis points to 30.4%, and adjusted EPS of $0.34.