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Why Is Pet Care Focused Petco Stock Trading Higher On Wednesday?

Petco Health and Wellness Company Inc. (NASDAQ:WOOF) reported first-quarter net revenue of $1.53 billion, down 1.7% year over year. This is almost in line with the consensus of $1.5 billion and management guidance of around $1.5 billion. Comparable sales declined 1.2% year over year and increased 4.1 percent on a two-year basis. On an as-reported basis, the company’s consumables business ...