By Katherine Hamilton

Petco Health & Wellness narrowed its first-quarter loss and kept its sales decline within expectations as leadership continues its turnaround efforts.

The pet-products retailer on Thursday posted a loss of $11.7 million, or 4 cents a share, in the 13 weeks ended in May, compared with a loss of $46.5 million, or 17 cents a share, a year earlier.

Revenue fell 2.3% to $1.49 billion, roughly in line with analysts' expectations of $1.50 billion. Same store sales decreased 1.3%, compared with a 0.6% decline estimated by Wall Street.

Petco reaffirmed its full-year outlook, which now incorporates the impact of new tariffs, Chief Executive Joel Anderson said. In its second quarter, Petco expects sales to decline in the low single digits.

Anderson, who joined in July, has spearheaded a series of changes to try to turn around the business, including redoing in-store merchandise, focusing on best sellers, and leaning into growth opportunities like in-store veterinarian services.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

June 05, 2025 16:17 ET (20:17 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.