By Elias Schisgall

Petco reported a wider loss in the first quarter, despite reporting same-store sales growth after a year consistent declines.

The pet products company on Wednesday reported a loss of $15.1 million, or 5 cents a share, compared with a loss of $11.7 million, or 4 cents a share, a year earlier.

Revenue ticked up to $1.5 billion from $1.49 billion a year prior. Analysts polled by FactSet were expecting $1.49 billion in revenue.

The 0.2% revenue growth was driven by an increase in services and other revenue to $268.6 million from $251.5 million. Product revenue fell to $1.23 billion from $1.24 billion.

Same-store sales rose 0.7%. Analysts were expecting roughly flat same-store sales.

Shares of Petco fell 11% to $2.70 in after-hours trading Wednesday.

The company has been trying to execute a turnaround and return to profitable growth under Chief Executive Officer Joel Anderson. In March, Petco said it may return to sales growth this year after same-store sales fell in each quarter of the previous fiscal year.

Petco on Wednesday reaffirmed its full-year outlook, which projects revenue growth in a range of flat to up 1.5% and adjusted earnings before interest, taxes, depreciation, and amortization of between $415 million and $430 million.

For the current second quarter, the company is projecting 0.3% revenue growth and adjusted Ebitda between $110 million and $112 million.

Analysts are expecting second-quarter revenue of $1.49 billion, representing around 0.3% growth.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

June 03, 2026 16:29 ET (20:29 GMT)

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