Petco’s efforts to meet consumer demand for more sustainable pet products and services rooted in purpose-driven performance contributed to net revenue growth in fiscal 2022.
San Diego, May 19, 2023 /PRNewswire/ — Petco Health and Wellness Company, Inc. (Nasdaq: Weft), announced today 3rd Environmental, Social and Governance (ESG) Annual Reportdetails the company’s progress in its commitment to continuing to set the standard for responsible pet care, helping people thrive and keeping the planet healthy.
“Petco’s goal to be the most trusted resource in pet care means we continue to improve lives by providing the fully integrated service and premium, sustainable products that pet lovers are looking for. I will.” Petco CEO Ron Coughlin. “Whether we are delivering sustainable products and services, expanding access to pet health and wellness, or making visible progress in our diversity, equity and inclusion (DEI) efforts, we are committed to driving growth and long-term We are committed to fulfilling our mission while delivering meaningful value, and we are excited to share how we supported these goals in 2022.”
Since its first ESG report published in 2021, the success of Petco’s strategy has been evidenced by its financial performance and new pet parents joining the health and wellness company on a mission to improve lives. In 2022, Petco’s net revenue will increase his 3.9%, $6 billion — on top of an 18% increase over the previous year — nearly 1 million active customers added to that base.
Highlights from Petco’s 2022 ESG report and other achievements to date include:
protect the health of the planet
- Removed more than 6 million single-use plastic bags from our own brand supply chain
- S&P Global Corporate Sustainability Assessment (CSA) Ranks Top 12% of North American Retailers – Petco Ranked in CSA for First Time
- 95% of Petco Petcare Center signs were printed with more sustainable materials
- Approximately 780 MWh of electricity is produced annually by solar panels at the National Support Center
- Rank 11th Among Retailers in Newsweek’s “America’s Most Responsible Companies 2023”
Help people prosper
- Percentage of people of color among new hires increased to 42%, while percentage of female new hires remained high at nearly 65%
- At least the basic wages of all non-trainee employees $15 1 hour
- Employee Medical Benefit Premiums Remain Flat for Third Consecutive Year
- Announces new investments in employee benefits including fertility treatment, medical travel and mental health
- Expanded Employee Resource Groups to improve cultural competencies, educate Petco Partners (employees) on issues faced by affinity group members, and facilitate engagement activities that deepen workplace connections.
Setting the standard for responsible pet care
- Becomes the first pet retailer in history to earn the American Humane Certified™ seal
- Over 92% of the aquatic animals sold at Petco Petcare Centers are farmed
- Through the Think Adoption First program, Petco PetCare Center has partnered with Petco Labs to help nearly 7 million pets find loving new homes to date.
- You’ve supported Petco Love’s mission to make communities and pet families closer, stronger, and healthier by:
- nurture $26 million
- Almost 18,000 pets reunited with their families thanks to Petco Love Lost
- Provide shelters and animal welfare organizations with: $9 million with a subsidy
- Became the first major pet retailer to stop selling human- or bark-activated shock collars in 2020
- In 2021, we have removed traditional rawhide options from the shelves in favor of safer, more digestible alternatives.
“By continuing to advance our industry leadership through investment and innovation, Petco is delivering on bold promises, including our strategy to increase our sustainable pet product portfolio to 50% by the end of 2025,” said Petco’s Vice President of Sustainability. We are moving forward,” he said. Francesca Mahoney. “Our sustainability strategy is in direct response to customer demand for high-quality, sustainable products and services that improve the health and well-being of pets.”
To learn more about Petco’s ESG commitments and progress, as well as access the company’s ESG reports and investor cutout sheets, please visit: esg.petco.com.
About Petco, The Health + Wellness Co.:
Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and Petco partners. We consistently set new standards in pet care, providing comprehensive pet wellness products, services and solutions, and building communities that bring pets and parents closer together. The Company operates more than 1,500 pet care centers in the United States, Mexico and Puerto Rico, offering merchandise, companion animals, grooming and training, as well as on-site veterinary hospitals and mobile veterinary clinics. Our network is also growing. Our complete pet health and wellness ecosystem can be accessed digitally through our pet care center or at: petcocom and above petco app.in parallel with petco love (formerly Petco Foundation) is an independent non-profit organization, and we work with and support thousands of local animal welfare organizations around the country, helping nearly 7 million animals through in-store giveaway events. Assisted in finding pet owners.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding expectations, beliefs, plans, objectives, goals and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It contains. , future events or performance, and underlying assumptions and statements other than statements of historical fact. Although Petco believes the expectations and assumptions reflected in these statements are reasonable, there is no assurance that these expectations will prove correct. Forward-looking statements are subject to a number of risks and uncertainties, including risk factors that Petco has identified in its Securities and Exchange Commission filings, and actual results may differ from those forward-looking statements. Results may differ materially from those discussed in the statement. Petco reserves the right to make any changes that Petco may make, whether as a result of new information, future events or otherwise, except as required by applicable law, regulation or other competent legal authority. does not undertake any obligation to publicly update any forward-looking statements.
Source Petco Health and Wellness Company, Inc.