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Kiplinger
Kiplinger
Business
Joey Solitro

Petco Cites Consumer Spending Pressures, Cuts 2023 Guidance

Petco
Petco store logo with birds nesting in the E of the sign.

Petco Health and Wellness (WOOF) beat revenue and met earnings expectations for the second quarter but said that a shift in consumer spending and pressures on its discretionary business led it to issue a full-year profit warning.

The pet supply retailer’s stock fell on the news by over 15% at the start of the today’s trading session.

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