Petco Slides as CEO Comments Show Turnaround Not Finished
AI Summary
Shares of Petco Health & Wellness Co. took a dive as much as 18% following the company's underwhelming second-quarter forecast that missed expectations, despite a solid first quarter showing positive revenue growth for the first time in nearly two years. CEO comments highlighted that the turnaround journey is still ongoing, signaling more challenges ahead. This dip underscores investor concerns about the company’s ability to sustain its recent improvements and maintain market confidence.
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