Petco Health falls as Q3 revenue forecast comes below estimates

Petco Health and Wellness

11/09/2024 13:45

** Petco Health and Wellness  WOOF.O  shares down 2.2% at $3
before the bell
    ** Company forecasts Q3 revenue of $1.50 billion, below LSEG
estimates of $1.51 billion
    ** Pet health company sees Q3 adjusted loss per share to be
between 3 and 4 centsm while analysts were expecting a loss of 4
cents 
    ** "Q3 outlook is appropriately conservative given the
dynamic environment" - brokerage Wedbush
    ** Brokerage says WOOF's profit-first strategy is showing
signs of building margin improvement through supply-chain
savings and operational efficiencies
    ** Up to Tuesday's close, stock had fallen nearly 3% so far
this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))