Petco Stock Drops: Q1 Sales Miss & Revenue Forecast Cut

Petco Health And Wellness Company, Inc. fell 1.98% in premarket trading, as the company reported first-quarter net sales of $1.49 billion, slightly below Wall Street's expectations of $1.5 billion and down 2.3% year-over-year. The company also forecasted a low single-digit decline in overall sales for 2025 and adjusted EBITDA for the second quarter between $92 million and $94 million, indicating a continued trend of declining revenue. Investors reacted strongly to the company's performance, causing the stock to plummet 23% during the day's trading.