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Petco: Higher profits and sales in the first quarter

Petco Health and Wellness recorded higher sales and profits in the first quarter, as comparable sales increased by more than 5% compared to the previous year.

The pet food and health company posted a profit of $ 24.7 million for the 13 weeks to April 30, up from $ 7.6 million a year ago.

Earnings were 9 cents per share, compared to 3 cents per share.

Adjusted earnings excluding extraordinary expenses and the cost of opening stores were at 17 cents per share, compared to the 15 cents expected by analysts.

Sales rose 4% to $ 1.48 billion. Analysts expected $ 1.45 billion.

Comparable sales increased 5.1% compared to the previous year and 33.5% compared to two years ago.

Source: Capital

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