Petco has released its third-annual environmental, social and governance (ESG) report, highlighting the pet retailer’s sustainability and diversity efforts.
In 2022, Petco increased its net revenue by 3.9% to $6 billion — in addition to an 18% increase the previous year — and added around 1 million active customers to its base, while expanding its private label offerings.
“Petco’s goal of being the most trusted resource in pet care means continuing to improve lives by offering the fully integrated services and premium, sustainable products pet lovers are looking for,” said Petco CEO Ron Coughlin. “Whether it’s offering sustainable products and services, expanding access to pet health and wellness or making tangible progress in our diversity, equity and inclusion (DEI) efforts, we’re committed to delivering on our mission while driving growth and providing long-term value to our stakeholders. I’m delighted to share how we supported these goals in 2022.”
Highlights from Petco’s 2022 ESG report and other achievements include the following:
Environmental
- More than 6 million single-use plastic polybags eliminated from its owned-brand supply chain
- Ranked among the top 12% of North American retail companies in the S&P Global Corporate Sustainability Assessment (CSA) — the first time Petco placed on the CSA
- 95% of Petco pet care center signage was printed on more sustainable materials
- Produced approximately 780 MWh of electricity a year through solar panels at its national support center
- Ranked 11th among retailers in Newsweek’s “America’s Most Responsible Companies 2023”
Social
- Increased representation of people of color among new hires to 42% and maintained a strong representation of women new hires at nearly 65%
- Increased every non-trainee employee’s base wage to at least $15 an hour
- Maintained employee healthcare benefit premiums flat for the third year in a row
- Announced new investments in employee benefits including fertility care, medical travel and mental health
- Expanded employee resource groups to facilitate engagement activities that increase cultural competencies, educate Petco partners (employees) on issues faced by affinity group members and deepen workplace connections
Governance
- Became the first pet retailer in history to be awarded the American Humane Certified Seal of Approval
- Aquacultured more than 92% of the aquatic life sold at Petco pet care centers
- Through the Think Adoption First program, Petco pet care centers partnered with Petco Love to help nearly 7 million pets to date find loving new families
- Supported Petco Love’s mission of making communities and pet families closer, stronger and healthier by:
- Raising $26 million
- Reuniting nearly 18,000 pets with their families thanks to Petco Love Lost
- Providing shelters and animal welfare organizations with $9 million in grants
- Became the first major pet retailer to stop selling human or bark-activated shock collars in 2020
- Removed traditional rawhide options from its shelves in favor of safe and highly digestible alternatives in 2021
The full report can be found here. Petco operates more than 1,500 pet care centers across the United States, Mexico and Puerto Rico.
