Petco Health and Wellness Company, Inc. announced its first quarter 2025 financial results, reporting net sales of $1.49 billion, a 2.3% decrease year-over-year from $1.53 billion. This figure missed the Street estimate of $1.50 billion. Product sales decreased by 3%, while services and other revenue increased by 1%.
The company reported a GAAP net loss of $11.66 million, or $(0.04) per share, a significant improvement from a net loss of $46.48 million, or $(0.17) per share, in Q1 2024. Adjusted EBITDA increased by $13.8 million to $89.45 million, expanding the Adjusted EBITDA Margin to 6.0% from 4.9% in Q1 2024.
Petco reaffirmed its full-year 2025 net sales and earnings outlook, which now incorporates the impact of tariffs. Full-year Adjusted EBITDA is still expected to be between $375 million and $390 million. For Q2 2025, the company expects net sales to be down low single digits year-over-year and Adjusted EBITDA between $92 million and $94 million.
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