Overview

• A Fast Company review, confirmed by Petco, identified at least 13 stores that have already closed across 11 states and Washington, D.C.
• CFO Sabrina Simmons said 10 locations had shut by the end of the second quarter, bringing the U.S. store count to 1,388.
• Petco reported second-quarter net sales down 2.3% to $1.5 billion, with comparable sales declining 1.4%.
• A company spokesperson said the closures align with its full-year outlook and transformation to optimize a fleet spanning the U.S., Mexico, and Puerto Rico.
• CEO Joel Anderson said Petco is leaning into targeted investments intended to set the stage for a return to sustainable profitable growth.