Petco posts 28 percent gain in same-store sales
May 21, 2021
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.
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.