What's Going On With Petco Health Stock Today?

Petco Health and Wellness Company, Inc. WOOF revealed a new partnership with Uber Technologies, Inc. UBER on Thursday.

The collaboration brings Petco’s range of pet essentials to the Uber Eats platform, making it easier for pet owners to access a variety of pet food, toys, treats, and other products.

The company’s shares are trading higher on Thursday. According to Benzinga Pro, WOOF stock has gained over 44% in the past year. Investors can gain exposure to the stock via ProShares Pet Care ETF PAWZ.

This partnership provides a solution for busy pet parents. They can now browse Petco’s selection of high-quality pet products and have them delivered right to their door, at their convenience.

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Steve Janowiak, Petco’s VP of Digital, expressed excitement about the partnership, emphasizing the company’s commitment to making pet care products more accessible.

The collaboration also introduces Petco items like the YOULY spring collection and the “Started as a Bottle” line made from recycled materials.

This move also signals Uber Eats’ ongoing expansion of its retail offerings, aiming to become a one-stop shop for groceries, household goods, and now pet care products.

Yesterday, Petco reported a slight miss in its fourth-quarter earnings and forecasted low single-digit declines in revenue for first-quarter and fiscal 2025.

Petco reported GAAP losses of five cents per share, which missed the analyst consensus estimate for losses of two cents. Quarterly revenue came in at $1.52 billion, missing the consensus estimate of $1.56 billion. Comparable sales increased 0.5% year-over-year.

Price Action: WOOF shares are trading higher by 29.4% to $3.156 at last check Thursday.

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