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    David Lane

    Director and Senior Equity Analyst at Wells Fargo

    David Lane is a Director and Senior Equity Analyst at Wells Fargo Securities, specializing in coverage of the airline and transport sectors. He actively covers companies including American Airlines, Delta Air Lines, United Airlines, Southwest Airlines, and Alaska Air Group, providing investment research and recommendations that have placed him consistently in industry performance rankings. Lane joined Wells Fargo Securities in 2014, following prior roles at Jefferies Group and JP Morgan, and has over fifteen years of experience in equity research supporting institutional clients. He holds FINRA Series 7, 63, 86, and 87 licenses, and is recognized for his rigorous financial analysis and insightful sector perspective.

    David Lane's questions to Petco Health & Wellness Company (WOOF) leadership

    David Lane's questions to Petco Health & Wellness Company (WOOF) leadership • Q3 2024

    Question

    David Lane from Wells Fargo, on for Zach Fadem, asked about the future glide path for gross margin and for context on the 3% decline in the supplies and companion animal segment.

    Answer

    CFO Brian LaRose declined to provide a forward-looking gross margin guide but emphasized that Q3 improvements from cost actions and services are fundamental, not one-time. Regarding the supplies decline, he reiterated that Petco is in 'self-help mode,' actively improving assortment and costs in the category rather than waiting for the market to recover.

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