Petco Health & Wellness Co. Inc. reported first-quarter net income of $7.6 million, or 3 cents per share, after a loss of $31.2 million, or 15 cents per share, last year. Adjusted EPS of 17 cents beat the FactSet consensus for 9 cents. Sales of $1.414 billion were up from $1.114 billion last year and ahead of the FactSet consensus for $1.270 billion. Comp sales rose 28%, and the company acquired 1.2 million new customers, the third straight quarter in which new customer acquisition reached or exceeded 1 million. Petco began trading on January 14. For fiscal 2021, Petco is guiding for revenue of $5.475 billion to $5.575 billion, up from previous guidance of $5.25 billion to $5.35 billion, and adjusted EPS of 73 cents to 76 cents, up from 63 cents to 66 cents previously. The FactSet consensus is for revenue of $5.289 billion and EPS of 65 cents. Petco stock slumped 2.8% in Thursday premarket trading, and has gained 9.1% over the past three months. The S&P 500 index has gained 5.4% for the last three months.
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