Petco Health and Wellness Company Inc (NASDAQ: WOOF) is a pet retail and services company that sells pet food, supplies, and accessories while operating grooming, training, and veterinary care services through a network of physical pet care centers and digital channels. Revenue comes from two streams: product sales ($4.94B in FY2025 ended January 31, 2026) and services and other ($1.03B in FY2025), totaling $5.96B in net sales for FY2025. Product sales represent the majority of revenue, while services have grown steadily from $981.6M in FY2023 to $1.03B in FY2025. As of January 31, 2026, Petco operated approximately 300 full-service veterinary hospitals and ran approximately 1,600 Vetco clinics on a weekly basis, with more than 26,000 store employees across its pet care center network. The company carries a heavy debt load, with Senior Secured Notes bearing interest at 8.25% per annum maturing February 1, 2031, and made $95.3M in term loan principal repayments in FY2025. Adjusted EBITDA improved to $408.2M in FY2025 from $336.5M in FY2024.

Revenue model

Transactional product sales (pet food, supplies, accessories) and fee-based services (veterinary care, grooming, training). Products generated $4.94B and services generated $1.03B in net sales for FY2025 (ended January 31, 2026). The company also operates an in-house retail media network and a membership offering layered onto in-store and e-commerce channels.

Products and services

Pet food, supplies, and accessories sold through physical pet care centers and petco.com e-commerce. Services include grooming, training, full-service veterinary hospitals (approximately 300 as of January 31, 2026), and Vetco clinics (approximately 1,600 operating weekly as of January 31, 2026). Digital touchpoints include the Petco app and petco.com for appointment booking, shopping, and pet health management.

Customers and end markets

Pet owners (referred to internally as pet parents) purchasing consumables, hardgoods, and health and wellness services for companion animals. End market is the U.S. pet care industry. No customer concentration disclosures in the excerpts provided.

Value-chain role

Specialty retailer and services operator. Vendors ship merchandise to Petco distribution centers, which allocate inventory to pet care center locations and e-commerce customers. Petco owns its grooming, training, and veterinary services rather than licensing them, integrating services directly into pet care center locations.

Geographic exposure

United States. Some vendors are located in Asia, with West Coast port shipping dependencies noted as an operational risk. No international retail footprint supported by the excerpts.

Source: SEC 10-K, filed 2026-03-13

Industry: Retail-Retail Stores, NEC Peers: Academy Sports and Outdoors Inc Bath & Body Works Inc Five Below Inc DICK'S Sporting Goods Inc Leslie's Inc National Vision Holdings Inc ODP Corp Ulta Beauty Inc Tractor Supply Co