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The surprise profit and raised guidance indicate a positive turnaround, similar to past stock rebounds following earnings surprises.
What happened, with direct paths to the underlying reporting
Petco posted surprising Q2 profit, beating earnings expectations. Adjusted EBITDA guidance raised to $385-395 million. Revenue fell 2.3% YoY to $1.49 billion. 25 net store closures last year impacted revenue. Shares surged 17% post-announcement, indicating positive investor sentiment.
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