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Petco Animal Supplies Sees Jump in Earnings

March 19, 2002|Bloomberg News

Petco Animal Supplies Inc., a pet food and supplies company that went public last month, said operating earnings jumped 63% to $15.7 million, or 27 cents a share, in its fourth quarter.

Sales rose 7% to $363.7 million in the quarter ended Feb. 2, with sales at stores open at least a year up 9%.

The San Diego-based company said that including one-time items, it had a loss of $18.2 million, or 46 cents a share, compared with profit of $8.48 million, or 21 cents, a year ago.

Shares of Petco fell 5 cents to $21.50 on Nasdaq, before the results were announced.

They've risen 13% since Petco sold shares to the public last month, less than 18 months after the company was taken off the market in a leveraged buyout.

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