Business
Petco Demonstrates Progress in Supporting the Health of Pets, People and Planet in Latest ESG Report
Rooted in purpose-driven performance, Petco's commitment to meeting consumer demand for more sustainable pet products and services contributed to a net
About this update from Petco Health And Wellness Company, Inc.
[{"type":"text","content":"Rooted in purpose-driven performance, Petco's commitment to meeting consumer demand for more sustainable pet products and services contributed to a net revenue increase in fiscal year 2022 \nSAN DIEGO, May 19, 2023 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), today unveiled its third annual environmental, social and governance (ESG) report, detailing the company's progress in its commitment to continue setting the standard in responsible pet care, helping people thrive and preserving the health of our planet.\n\n \n \n \n \n \n \n\n \n\"Petco's goal of being the most trusted resource in pet care means continuing to improve lives by offering the fully integrated services and premium, sustainable products pet lovers are looking for,\" said Petco CEO Ron Coughlin. \"Whether it's offering sustainable products and services, expanding access to pet health and wellness or making tangible progress in our diversity, equity and inclusion (DEI) efforts, we're committed to delivering on our mission while driving growth and providing long-term value to our stakeholders. I'm delighted to share how we supported these goals in 2022.\"\nSince its inaugural ESG report, published in 2021, the success of Petco's strategy has been evidenced by financial performance and new pet parents joining the health and wellness company on its mission to improve lives. In 2022, Petco increased its net revenue by 3.9% to $6 billion — in addition to an 18% increase the previous year — and added around 1 million active customers to its base.\nHighlights from Petco's 2022 ESG report and other achievements thus far include:\nPreserving the health of our planet \nMore than 6 million single-use plastic polybags eliminated from its owned-brand supply chainRanked among the top 12% of North American retail companies in the S&P Global Corporate Sustainability Assessment (CSA) — the first time Petco placed on the CSA95% of Petco pet care center signage was printed on more sustainable materialsProduced approximately 780 MWh of electricity a year through solar panels at its national support centerRanked 11th among retailers in Newsweek's \"America's Most Responsible Companies 2023\"Helping people thrive \nIncreased representation of people of color among new hires to 42% and maintained a strong representation of women new hires at nearly 65%Increase...