Petco filed to go public on Friday. The company has seen a surge in demand this year, with same-store sales increasing by nearly 10% amid an increase in pet ownership driven by the ongoing coronavirus outbreak. The company noted that US pet ownership is expected to increase by 4% as a result of the ongoing pandemic.
Extra: Adjacent pet-products retailer Chewy (which focuses primarily on e-commerce) has seen a 150% increase in its share price this year.
The New Paper
This story is from the December 7, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.
