Petco Stock News: 12 Things to Know About the Petco IPO and WOOF Stock

Petco wants to keep your four-legged friends happy, and now it wants to keep your portfolios happy too. That is what investors learned Friday, after news of the Petco IPO filings broke. So now that the paperwork with the U.S. Securities and Exchange Commission is in order, what do you need to know about the Petco stock news?

The front of a Petco (WOOF) store in Los Angeles, California.

Source: Walter Cicchetti /

Here are the top things you need to know about Petco stock and the Petco IPO news:

  • According to the Petco IPO filing, the company plans to trade on the Nasdaq Exchange under the ticker WOOF.
  • Petco has also not disclosed how many shares it plans to offer, or the IPO price range.
  • Like many other companies, it will have several classes of common stock.
  • Investors should note that it will offer Class A, Class B-1 and Class B-2 shares.
  • Class B-1 shares will not allow holders to vote on the removal or approval of directors. Class B-2 shares allow holders to only vote on director approval and removal.
  • Importantly, the company has shared that its financials are growing.
  • For the first 10 months of 2020, net sales grew 9% year over year to $3.58 billion.
  • Additionally, its same-store sales have improved 9.6% year over year.
  • Also importantly, Petco is improving in terms of profitability. This comes after reporting net losses for the last three years.
  • For the first 10 months of 2020, net losses narrowed 77% to $20.3 million.
  • Petco has been in existence since 1965, but it has not been publicly traded since 2006.
  • Investors should note that it a Petco IPO was rumored in 2015, but private equity firms instead acquired it for $4.6 billion.

Why the Petco Stock IPO Matters Right Now

So why should investors really care about an upcoming IPO for a pet products retailer? Well, it turns out that the market for pet care is incredibly hot thanks to the novel coronavirus.

Not following that connection? Well, as more Americans got used to spending time at home and away from friends and family, many turned to animal shelters for new companions. According to one estimate in the Petco IPO filing, the number of households with pets will grow 4% this year. Importantly, as that number grows, so too will spending on pet care and products. Want another statistic on that? Turns out as many as 3.3 million pets have already found their forever homes this year.

As investors learned today with the Petco stock news, the company is looking to benefit from that. It cites $4 billion in new demand for pet products. Similarly, we have seen Chewy (NYSE:CHWY), another popular pet products retailer, gain 160% in 2020. Although Chewy stands out with an e-commerce business model, its pandemic success still bodes well for the Petco IPO.

Have you upped your spending on pet products this year? I sure have. Keep your furry friends close and keep an eye on the Petco IPO news.

On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Sarah Smith is a Web Content Producer with 

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