Business
Petco Health + Wellness Company, Inc. Announces Long-Term Strategic Priorities as it Shapes the Future of Pet Health and Wellness
Outlines strategic approach to drive sustained, profitable growth with industry-leading ecosystemReinforces success across services, unique merchandise,
About this update from Petco Health And Wellness Company, Inc.
[{"type":"text","content":"Outlines strategic approach to drive sustained, profitable growth with industry-leading ecosystemReinforces success across services, unique merchandise, digital and powerful data Reaffirms Fiscal Year 2022 outlook; Provides long-term financial framework for growth priorities and Adjusted EBITDA margin expansionSAN DIEGO, March 23, 2022 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), a complete partner in pet health and wellness, is hosting its 2022 Investor Day today, Wednesday, March 23, 2022, in New York, N.Y. The event begins at 8 a.m. Eastern Standard Time and can be viewed virtually here. In conjunction with the event, the company is unveiling its longer-term financial framework, as well as its strategic and capital priorities.\n\n \n \n \n \n \n \n\n \n\"Petco is on one of the steepest growth trajectories in all of retail, supported by our position as the only fully integrated provider of pet health and wellness across products, veterinary and services, digital, and in brick and mortar channels,\" said Ron Coughlin, Chairman and CEO of Petco. \"We are defining the future of pet parenting in an incredibly high growth and economically resilient category. Our ecosystem is built to capture the market opportunity and positions us as a leader of what we call Retail 3.0. As we build on last year's incredible performance, we're emerging stronger and more confident that our strategic moats position us to compete and win.\"\nHighlights – What You'll Hear From Us Today\nPetco will provide updates on its new and existing strategic initiatives to drive growth, including:\nOutlining an integrated future loyalty program unified under Vital Care, migrating customers to subscription, saving money for customers, driving share of wallet for Petco, and expanding Petco's position as the premiere destination for pet parents;Testing \"Small Town Rural\" concepts in key strategic locations and driving brand awareness and penetration in low-share markets;Building a differentiated merchandise offering through key vendor relationships, such as its recently expanded partnership with Just Food For Dogs, a category defining over-the-counter offering with the Healthy Habits Hub, and continuing to scale owned brands, including Reddy and Whole Hearted;Scaling personalization capabilities by leveraging the power of its comprehensive...