Petco Posts Unexpected Profit as Turnaround Plan Takes Hold
1. Petco posted surprising Q2 profit, beating earnings expectations. 2. Adjusted EBITDA guidance raised to $385-395 million. 3. Revenue fell 2.3% YoY to $1.49 billion. 4. 25 net store closures last year impacted revenue. 5. Shares surged 17% post-announcement, indicating positive investor sentiment.