Petco Health and Wellness Company posted fourth-quarter earnings of five cents per share, topping the Street estimate for a one-cent loss, according to Benzinga. Revenue came in at $1.48 billion, slightly below consensus estimates of $1.49 billion and down from $1.52 billion last year. Net sales of $1.5 billion declined 2.3% year-over-year, while comparable sales fell 1.4%. Gross profit margin expanded about 120 basis points to 39.3%. Operating income rose to $43 million, an improvement of $40.6 million. CEO Joel Anderson said the results laid a solid foundation for transformation and allowed Petco to raise its full-year earnings outlook. Shares rose 17.96% in after-hours trading on Thursday.
