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    Matt McCartney

    Senior Equity Research Associate at Wedbush Securities

    Matt McCartney is a Senior Equity Research Associate at Wedbush Securities, specializing in hardlines retail sector analysis. He conducts equity research that supports the coverage of leading consumer retail companies, leveraging experience from prior research roles at Northcoast Research Partners and legislative analysis in the Ohio House of Representatives. McCartney began his finance career in 2014, joined Wedbush Securities in October 2017, and holds a Bachelor’s degree in Economics from The Ohio State University. He is FINRA-registered and operates under CRD# 6514523, demonstrating compliance with professional securities licensure requirements.

    Matt McCartney's questions to Petco Health & Wellness Company (WOOF) leadership

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

    Question

    Matt McCartney of Wedbush Securities, on for Seth Basham, questioned the pricing impact during the quarter and the key drivers behind the improvement in services margin.

    Answer

    CFO Brian LaRose described the pricing environment as 'rational' but did not quantify the impact. He explained that the 130 basis point gross margin improvement was driven by cost actions and a significant improvement in services gross margin, which resulted from the maturation of vet hospitals, strength in Vetco Mobile clinics, and a strong grooming business.

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