Petco Health And Wellness Q2 Profit Increases; Names Brian LaRose CFO

(RTTNews) - Petco Health and Wellness Company Inc. (WOOF) reported that its second-quarter net income common stockholders increased to $75.11 million or $0.28 per share from $7.44 million or $0.04 per share in the previous year.

Adjusted net income increased to $67.5 million or $0.25 per share from $23.10 million or $0.11 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share for the second-quarter. Analysts' estimates typically exclude special items.

Net revenue increased 19 percent year-over-year to $1.4 billion driven by comp sales growth of 20 percent. Analysts expected revenues of $1.37 billion for the quarter.

In a separate press release, Petco Health and Wellness Company said that it has appointed Brian LaRose as Chief Financial Officer of the company, effective Thursday. LaRose will succeed Mike Nuzzo, who will continue in his role as Chief Operating Officer and President, Petco Services.

Prior to joining Petco, LaRose served as Divisional CFO for HP Inc.'s 3D business unit.