1612 ET - Petco's announcement of Sabrina Simmons --former finance chief of Gap-- as its CFO shows the pet specialty retailer is gearing up to play offense even if it's highly focused on improving its profitability and cash flow, UBS analysts say in a research note. The timing of the appointments of Simmons, Michael Romanko as customer and product chief, and Jack Stout as merchandising chief are a reflection of the company's desire to hit the ground running this fiscal year, the analysts add. "Still, we believe it will take time for the team to drive a significant improvement in the company's performance." Shares fall 1.3% to $3.10.(sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 19, 2025 16:12 ET (21:12 GMT)
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