Petco Health And Wellness Q1 Loss Beats Estimates; Revenue Down

(RTTNews) - Petco Health and Wellness Company, Inc. (WOOF), a pet retailer, Wednesday reported net loss of $46.48 million or $0.17 per share for the first quarter, wider than 1.89 million or $0.01 per share loss in the same quarter a year ago, primarily due to decline in revenue.

Excluding one-time items, the company posted a loss of $11.80 million or $0.04 per share compared with income of $14.91 million or $0.06 per share last year. On average, 13 analysts polled by Thomson-Reuters expected a loss of $0.07 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter declined to $1.529 million from $1.556 billion in the previous year. The consensus estimate as for $1.51 billion.

Looking ahead to the second quarter, the company expects to report adjusted loss per share of about $0.02 and revenue of nearly $1.525 billion. Analysts expect the company to report a loss of $0.02 per share on revenue of $1.52 billion for the quarter.