The stock of Petco Health and Wellness Company (WOOF Quick QuoteWOOF ) has been on a rise after reporting strong second-quarter 2021 earnings of 25 cents per share, which beat the Zacks Consensus Estimate by 38.89%.
The company that provides an entire ecosystem of care for pets, both online and offline, reported revenues of $1.4 billion, up 19% year over year. Earnings seemed healthy, underscored by 50% growth in recurring revenue customers, which creates stickiness, and creates long-term predictability in the company’s earnings.
Recurring revenues were up 60%, generated....More>>>