Committed to making comprehensive health and
wellness solutions more accessible nationwide, Petco designs
innovative concept to meet growing pet specialty demand
SAN
DIEGO, June 16, 2022 /PRNewswire/ -- Petco
Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced
the launch of a new community-driven test concept designed to serve
the health and wellness needs of pets and farm animals in small
towns and rural communities. The grand opening of the first
location will be in Floresville,
Texas, this Friday, June
17.
"These are rapidly-growing markets where pet parents are looking
for an experienced, pet-dedicated partner like Petco to help them
care for the health and wellness of their animals," said Petco CEO,
Ron Coughlin. "This is an exciting
opportunity for us to serve more pets by dramatically expanding
local access to healthy pet products and services."
Petco's new Neighborhood Farm & Pet Supply pet care centers
feature brand-new, stand-alone retail locations strategically and
conveniently situated at the heart of small-town and rural
communities. Featuring the pet-focused support, and curated
assortment of high-quality products and pet care services Petco is
known for, while leveraging the strength of the company's
omnichannel ecosystem, the Neighborhood Farm & Pet Supply pet
care centers will serve as one-stop shops for health and wellness
solutions for pets and farm animals such as horses, cows, pigs,
sheep, goats and more.
With 14% of the U.S. population living in rural areas and that
number rapidly growing, there is an estimated $7 billion total addressable market in small-town
and rural locations*, providing Petco with an opportunity to
capture significant incremental market share and share of wallet
gains. According to the Economic Innovation Group and federal
statistics, more than two-thirds of large urban counties saw their
populations decline in 2021 — an exceptionally high share by
historical standards. Additionally, for the first time in 50 years,
counties with an urban center and more than 250,000 people
experienced negative growth as a category. Exurban counties saw the
biggest increase in population growth across the board, with about
80% gaining new residents.
The launch of the test concept is expected to inaugurate a
handful of Neighborhood Farm & Pet Supply pet care centers in
2022, and bring Petco's curated assortment of products and services
more quickly and at a lower cost than national and regional
players, thanks to differentiated digital fulfilment offerings. To
satisfy high customer interest in a specialty retailer with farm
and companion animal food and supplies, Petco's full suite of
offerings will include:
- High-quality nutrition
- Curated farm and feed assortment
- Live companion animals
- Mobile vaccination and grooming services
- Self-wash stations
- Same-day delivery
- Buy online, pick up in store
- Curbside pickup
Tailored to pets and farm animals of all shapes and sizes, the
pet care centers will also serve as places for safe community
gathering and connection. Each location will offer local events and
an in-store community board to support safe, pet-friendly
interaction amongst neighbors. In partnership with Petco Love
(formerly Petco Foundation), the neighborhood farm and pet supply
locations will offer adoption services and other health and
wellness programs to further support local pets.
*Source: Synergos Technologies, Inc. Popstats demographics,
Q4 2021.
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 our own Petco partners. We've consistently set new
standards in pet care while delivering comprehensive pet wellness
products, services and solutions, and creating communities that
deepen the pet-pet parent bond. We operate more than 1,500 pet care
centers across the U.S., Mexico
and Puerto Rico, which offer
merchandise, companion animals, grooming, training and a growing
network of on-site veterinary hospitals and mobile veterinary
clinics. Our complete pet health and wellness ecosystem is
accessible through our pet care centers and digitally at petco.com
and on the Petco app. In tandem with Petco Love (formerly the Petco
Foundation), an independent nonprofit organization, we work with
and support thousands of local animal welfare groups across the
country and, through in-store adoption events, we've helped find
homes for more than 6.5 million animals.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking statements 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, concerning expectations, beliefs, plans, objectives,
goals, strategies, future events or performance and underlying
assumptions and other statements that are other than statements of
historical fact. Although Petco believes that the expectations and
assumptions reflected in these statements are reasonable, there can
be no assurance that these expectations will prove to be correct.
Forward-looking statements are subject to many risks and
uncertainties, including the risk factors that Petco identifies in
its Securities and Exchange Commission filings, and actual results
may differ materially from the results discussed in such
forward-looking statements. Petco undertakes no duty to update
publicly any forward-looking statement that it may make, whether as
a result of new information, future events or otherwise, except as
may be required by applicable law, regulation or other competent
legal authority.
Media Contact:
Ventura Olvera
ventura.olvera@petco.com
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SOURCE Petco Health and Wellness Company, Inc.