Petco Health & Wellness Company reported second quarter 2026 financial results for the period ended August 1, 2026. Net sales reached $1.5 billion, a 0.05% increase year-over-year, with comparable sales rising 0.6%. The company recorded net income of $38.7 million and adjusted EBITDA of $122.2 million, benefiting from a $6.8 million net gain related to IEEPA tariff refunds. Petco closed one store during the quarter, ending with 1,377 locations. Subsequent to the quarter, the company prepaid an additional $75 million in debt, bringing total prepayments to $170 million over the past nine months as it targets a 2x leverage ratio. The company reaffirmed its full-year 2026 net sales outlook of flat to up 1.5% and adjusted EBITDA guidance of $415 million to $430 million. Petco operates a chain of pet specialty retail stores in the United States, Mexico, and Chile.

Petco Health & Wellness Company, Inc. announced that Cameron Breitner resigned from its Board of Directors and committees effective August 1, 2026. The resignation was not due to any disagreement with the company. To fill the resulting vacancy, the board appointed Jeffrey Naylor as an independent Class I director on the same date. Mr. Naylor also serves as Chair of the Audit Committee. He is a designee of controlling stockholder Scooby Aggregator, LP. His background includes senior financial leadership roles at The TJX Companies, Big Lots, and Dade Behring, and he currently sits on the boards of Synchrony Financial and Wayfair. Petco operates in the pet health and wellness industry, providing products and services through its retail stores and online platform.

Holly May, the Chief Human Resources Officer of Petco Health and Wellness Company, Inc., has resigned for personal reasons. The company has started a search for her successor and she will assist with the transition of her responsibilities. Petco Health and Wellness Company, Inc. operates in the pet care industry and provides products and services for pets and pet owners.

At its 2026 Annual Meeting of Stockholders held on June 30, 2026, Petco Health and Wellness Company, Inc. stockholders approved an amendment to the 2021 Equity Incentive Plan to increase the number of Class A common stock shares reserved for issuance by 15,500,000. Additionally, stockholders elected Joel Anderson, Gary Briggs, Nishad Chande, and Mary Sullivan to the Board of Directors as Class III directors. The meeting also resulted in the non-binding advisory approval of executive compensation and the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending January 30, 2027. Petco Health and Wellness Company, Inc. is a pet retail and services company.