Stockpiling behavior during the pandemic favored sellers of dog, cat, and other pet foods. Petco alone accounts for nearly 33 percent of cat and dog food sales. It accounts for half of sales of fish and other pet foods. Petco stayed open when many retailers were forced to close because of the large amount of pet essentials it sells. Now, as the pet supplies retailer expands its veterinary service offerings as a way to differentiate itself from the competition, it is preparing for an IPO. The filing is awaiting a review from the U.S. Securities and Exchange Commission.
The San Diego-based retail chain provided few details about the filing. It is unknown how many shares will be offered or the expected price range.