Petco's newly published 2020 annual report revealed that the big-box pet specialty retailer brought in $4.9 billion in revenue—an increase of 11% YOY. Other highlights from the company's FY2020, which ended Jan. 30, 2021, include:
• Digital sales grew 100% YOY.
• 83% of digital orders were fulfilled from Petco stores.
• Adjusted EBITA reached $484 million (+14% YOY).
• The company ended the year with veterinary hospitals in 125 locations, with the long-term goal of reaching 900 locations.
"This past year was a defining one for all of us at Petco as we served pets and pet parents in more ways than ever before," said Ron Coughlin, chairman and CEO of Petco, in a press release announcing the published report. "Our unique model and commitment to purpose driven performance drove strong results in a category that is experiencing significant growth. Leveraging our innovative health and wellness ecosystem and transformed digital platform, we quickly adapted to the changing environment and launched new, socially distanced offerings like curbside pickup, same-day delivery and online training. These capabilities, combined with our continued aggressive build-out of our services platform, including our veterinary care offerings, are key strategic differentiators for Petco moving forward. I would like to thank our more than 27,000 passionate Petco partners for their hard work and commitment to Petco's continued success."