Petco posts 28 percent gain in same-store sales

Petco Health & Wellness Co. reported that its same-store sales jumped 28 percent in the first quarter as the pet retailer acquired 1.2 million new customers. Petco chairman and CEO Ron Coughlin said the retailer was raising its annual forecast based on "category acceleration combined with a strengthening of our customer base." Pet adoptions have grown substantially since the COVID-19 pandemic began last year.