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Petco Health and Wellness Company Inc. (WOOF-10.63%) has submitted its 10-K filing for the fiscal year ended February 1, 2025.
The filing reports net sales of $6.12 billion, a decrease from $6.26 billion in the previous year. This decrease is attributed to a reduction in sales of supplies and companion animals.
Gross profit for the year was $2.32 billion, slightly down from $2.35 billion in the prior year. The gross profit rate improved to 38.0% from 37.6%, mainly due to supply chain efficiencies and improved hospital margins.
Selling, general, and administrative expenses were $2.32 billion, up from $2.31 billion, reflecting investments in infrastructure and personnel.
The company reported an operating income of $7.1 million, compared to an operating loss of $1.18 billion in the previous year, which included a goodwill impairment charge of $1.22 billion.
Net loss attributable to Class A and B-1 common stockholders was $101.8 million, compared to a net loss of $1.28 billion in the prior year.
Interest expense decreased to $143.5 million from $150.9 million, due to lower interest rates and gains from cash flow hedges.
The company reported a positive cash flow from operating activities of $177.7 million, down from $215.7 million, influenced by lower sales and timing of invoice payments.
Capital expenditures were $123.9 million, primarily for new and existing pet care centers and digital and information technology enhancements.
The company ended the fiscal year with liquidity of $681.4 million, including $165.8 million in cash and $515.6 million available under its revolving credit facility.
Petco continues to focus on expanding its veterinary services, enhancing its digital platform, and optimizing its product assortment to drive future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Petco Health and Wellness Company Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.