Q2 operating income falls 19% on $71.7M Petsense restructuring charges; comp sales -1.5%

Filed August 6, 2026 · Period ending June 27, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Closed ~75 Petsense stores (out of 209 total), recording $71.7M in impairment and restructuring charges including $22.2M goodwill write-off and $11.0M tradename impairment. Strategic pullback from small-box pet specialty concept.

  Notes: Petsense restructuring verify on EDGAR →
• high

  Q2 operating income fell 19% to $467.1M (10.3% of sales) from $577.8M (13.0% of sales) in Q2 FY25. Adjusted operating income down 5% to $548.3M on comp-sales deleverage and higher SG&A.

  MD&A: Operating income verify on EDGAR →
• high

  Comparable store sales declined 1.5% (transaction count -1.7%, ticket +0.2%), reversing prior-year +1.5% comp growth. May softness in seasonal/big-ticket items and discretionary categories drove the decline.

  MD&A: Comparable store sales verify on EDGAR →