Could Petco Health & Wellness Help You Become a Millionaire by 2040?
Petco Health & Wellness (NASDAQ: WOOF) started off as the leader of the pack when it went public in January of this year, chasing a 50% gain on the first day of trading. Since then, however, the pet food and services provider has pretty much been in the doghouse, with shares down 26% from its opening price.
Yet, the stock performance is not indicative of the business, which is actually doing quite well. Sales are growing rapidly, with comps up by double-digit rates for six consecutive quarters, and have been positive for the last 12 quarters. Recurring customer revenue is also showing strength, up 60% year over year, giving Petco a measure of predictability for this stream.
Its performance this past quarter allowed it to raise its outlook for the year, suggesting it's only a matter of when the market catches up to the business. So, let's see whether Petco Health & Wellness has what it takes to help you become a millionaire by 2040.
Source Fool.com
