From CNBC:

Petco CEO Ron Coughlin steps down, interim CEO appointed. Ron Coughlin will serve as an advisor as Best Buy executive R. Michael Mohan takes over temporarily. Company reports Q4 results in line with expectations, including 2 cents EPS and $1.67 billion in revenue. Stock rises then closes 2% lower. Pet industry faces slowdown after pandemic-fueled boom. Petco’s market cap has eroded despite consistent sales growth. Coughlin transformed Petco into health and wellness company, leading it through IPO in 2021. Petco expanding veterinary services with 282 full-service hospitals. Mohan appointed interim CEO to focus on driving profitability and growth.



Read more at CNBC: Petco CEO Ron Coughlin steps down