Petco Services, Auto-Ship Sales Grow as Turnaround Continues

Petco Health & Wellness Co. exceeded Wall Street profit expectations and reported comparable sales growth for the second consecutive quarter, marking a turnaround after a year of declines. The strong financial performance drove the company's shares up as much as 14% in postmarket trading Wednesday. Growth was fueled by increased services revenue and auto-ship sales, indicating successful execution of the retailer's turnaround strategy.