SAN DIEGO (AP) — SAN DIEGO (AP) — Petco Health & Wellness Co. (WOOF) on Wednesday reported a loss of $46.5 million in its fiscal first quarter.
On a per-share basis, the San Diego-based company said it had a loss of 17 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 4 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The pet store chain posted revenue of $1.53 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.5 billion.
For the current quarter ending in July, Petco expects its per-share loss to be 2 cents.
The company said it expects revenue in the range of $1.53 billion for the fiscal second quarter.
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