Shares of Petco Health & Wellness Co. Inc. WOOF tumbled 14.3% in premarket trading Wednesday, after the pet care products retailer reported a surprise fiscal third-quarter loss and slashed its full-year outlook, and said it was taking “swift and decisive action” to boost performance. The company swung to a net loss for the quarter to Oct. 28 of $1.24 billion, or $4.63 a share, from net income of $19.9 million, or 7 cents a share, in the year-ago period. Excluding nonrecurring items, such as a $1.2 billion goodwill impairment charge, the adjusted per-share loss was 5 cents, to miss the FactSet consensus for earnings per…
Master your money.
Subscribe to MarketWatch.
Get this article and all of MarketWatch.
Access from any device. Anywhere. Anytime.
Already a subscriber?
Log In
