Petco Health and Wellness Company (WOOF) Goldman Sachs Global Consumer and Retail Conference summary

Strategic evolution and growth

• Transitioned from cost-cutting to top-line growth in phase III, with ongoing focus on efficiency from phase II.

• Achieved two consecutive quarters of positive comparable sales with healthy margins.

• Differentiation driven by wholly owned services, unique product offerings, and integration across business lines.

• Enhanced technology enables groomers and veterinarians to access customer purchase data, improving service and recommendations.

• Industry trends show rising cat adoption and premiumization in dog products, with new initiatives targeting these shifts.

Omni-channel and digital initiatives

• Integrated omni-channel strategy increases customer value, with robust Autoship and BOPUS capabilities.

• Autoship fulfillment improved through store-based delivery, higher in-stock rates, and rebranding for customer clarity.

• Online channel regrowth achieved with healthier margins after operational improvements.

Store optimization and prototype testing

• Ongoing optimization includes closing 15-20 underperforming stores, focusing on sales per square foot and productivity.

• Testing a seven-store prototype with improved NPS, order size, and transactions; learnings to inform future remodels.

• About half the fleet up for renewal in three years, providing flexibility for relocations and negotiations for better rents.