PetMed Express reported first-quarter fiscal 2027 results that missed the Zacks Consensus Estimate on both the top and bottom lines, with sales declining 19.9% year over year to $41 million. The company posted a loss of 28 cents per share, narrowing from $1.65 per share in the prior-year quarter, helped by the absence of prior-year goodwill and trade name impairment charges and lower general and administrative and advertising expenses. Gross profit fell 21.3% to $11.3 million, while total operating expenses dropped 63.8% to $17.6 million, largely because the year-ago period included a $27.3 million goodwill and intangible-asset impairment charge. PetMed Express also announced a definitive agreement to sell its Delray Beach, Florida headquarters and distribution center buildings through a sale-leaseback transaction valued at $37 million, with closing expected within about 120 days. The company ended the quarter with $13.1 million in cash and no debt, and it launched a co-branded online pharmacy offering with Rural King in July as its first large-scale white-label pharmacy program.
PetMed Express IncQ1 earnings miss and sales decline 19.9%.
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Central Garden & Pet Company ALaunched co-branded online pharmacy with PetMed Express.
