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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.