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Contacts : Investor Relations investorrelations@petco.com petco THE HEALTH + WELLNESS CO . Media Relations Benjamin Thiele - Long benjamin.thiele- long@petco.com FOR IMMEDIATE RELEASE : August 24 , 2022 Petco Health + Wellness Company , Inc. Reports Second Quarter Earnings • Comparable sales grew 3.8 percent year over year and 23.5 percent on a two - year basis , resulting in fifteenth consecutive quarter of comparable sales growth • Net revenue of $ 1.48 billion increased 3.2 percent year over year • Delivered net income of $ 13.5 million and Adjusted EBITDA¹ of $ 142.0 million • Earnings per share of $ 0.05 , a decline of $ 0.23 from prior year ; Adjusted Earnings Per Share¹ of $ 0.19 , a decline of $ 0.06 from prior year • Updates full year guidance , with net revenue of $ 5.975 billion to $ 6.05 billion ; Adjusted EBITDA¹ of $ 580.0 million to $ 595.0 million and Adjusted Earnings Per Share¹ between $ 0.77 and $ 0.81 San Diego , August 24 , 2022 – Petco Health and Wellness Company , Inc. ( Nasdaq : WOOF ) , a complete partner in pet health and wellness , today announced its second quarter 2022 financial results . In the second quarter of 2022 , Petco delivered net revenue of $ 1.48 billion , up 3.2 percent versus prior year . Net income was $ 13.5 million or $ 0.05 per share compared to $ 75.1 million or $ 0.28 per share in the prior year . Adjusted Net Income¹ was $ 49.7 million or $ 0.19 per share , compared to $ 67.5 million or $ 0.25 per share in the prior year . " Q2 marks our 15th consecutive growth quarter , demonstrating that Petco's business and customers continue to grow , driven by the strength of our unique end - to - end health and wellness pet ecosystem , " said Petco CEO Ron Coughlin . " Despite economic volatility , the pet category remains resilient and our 29,000 Petco Partners remain focused on improving the lives of countless pets and pet parents , working together and tangibly executing against our strategic priorities - including further expansion of our vet network and capabilities , continued mix shift towards premium products , the addition of over a hundred experiential fresh and frozen pantries in Pet Care Centers , and double - digit growth in recurring and loyalty customers . " Fiscal Q2 2022 Operating Results : Comparisons are second quarter of 2022 ended July 30 , 2022 versus second quarter of 2021 ended July 31 , 2021 unless otherwise noted Second quarter results reflect continued business and customer growth , and operational execution , while delivering on the promise of purpose driven performance . • Net revenue increased 3.2 percent to $ 1.48 billion driven by comparable sales growth of 3.8 percent