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• Petco Health and Wellness Company plunged 16.7% to $3.20 after the specialty retailer reported weaker-than-expected quarterly earnings.
  
  Revenue in the fiscal third quarter ending in October declined 0.5% to $1.49 billion from $1.50 billion, and same-store sales were flat from a year ago but rose 4.1% from two years ago.
  
  The company swung to a net loss of $1.2 billion from a profit of $19 million, and diluted earnings per share dropped to a loss of $4.63 from a profit of 7 cents a year ago.
  
  During the quarter, Petco recorded a $1.2 billion non-cash goodwill More
  
  Nov 29, 2023
• Petco Health and Wellness Company plunged 16.7% to $3.20 after the specialty retailer reported weaker-than-expected quarterly earnings.
  
  Revenue in the fiscal third quarter ending in October declined 0.5% to $1.49 billion from $1.50 billion, and same-store sales were flat from a year ago but rose 4.1% from two years ago.
  
  The company swung to a net loss of $1.2 billion from a profit of $19 million, and diluted earnings per share dropped to a loss of $4.63 from a profit of 7 cents a year ago.
  
  During the quarter, Petco recorded a $1.2 billion non-cash goodwill impairment charge associated with goodwill originally recorded in fiscal 2015, due to the decline in the company's stock price.
  
  The company reiterated its 2023 revenue guidance to between $6.15 billion and $6.275 billion, adjusted earnings per share to 8 cents from the previous estimate between 24 cents and 30 cents, and confirmed its capital expenditure between $215 million and $225 million. Less
  
  Nov 29, 2023

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