Petco Health and Wellness (WOOF) 10-Q 7 Dec 23 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 28, 2023	Dec. 05, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 28, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Registrant Name	Petco Health and Wellness Company, Inc.
Entity Central Index Key	0001826470
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	WOOF
Security Exchange Name	NASDAQ
Entity File Number	001-39878
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-1005932
Entity Address, Address Line One	10850 Via Frontera
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92127
City Area Code	858
Local Phone Number	453-7845
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		230,697,818
Class B-1 Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,790,781
Class B-2 Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,790,781

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023
Current assets:
Cash and cash equivalents	$ 139,782	$ 201,901
Receivables, less allowance for credit losses ($1,897 and $952, respectively)	50,180	49,580
Merchandise inventories, net	730,148	652,430
Prepaid expenses	46,856	51,274
Other current assets	40,562	60,809
Total current assets	1,007,528	1,015,994
Fixed assets	2,142,520	1,987,560
Less accumulated depreciation	(1,314,721)	(1,184,233)
Fixed assets, net	827,799	803,327
Operating lease right-of-use assets	1,390,671	1,397,761
Goodwill	976,247	2,193,941
Trade name	1,025,000	1,025,000
Other long-term assets	199,316	176,806
Total assets	5,426,561	6,612,829
Current liabilities:
Accounts payable and book overdrafts	486,634	381,213
Accrued salaries and employee benefits	100,997	89,929
Accrued expenses and other liabilities	215,875	217,556
Current portion of operating lease liabilities	305,975	309,766
Current portion of long-term debt and other lease liabilities	5,082	22,794
Total current liabilities	1,114,563	1,021,258
Senior secured credit facilities, net, excluding current portion	1,574,909	1,628,331
Operating lease liabilities, excluding current portion	1,148,958	1,148,155
Deferred taxes, net	270,841	303,121
Other long-term liabilities	124,436	130,487
Total liabilities	4,233,707	4,231,352
Commitments and contingencies (Notes 4 and 8)
Stockholders' equity:
Preferred stock, $0.001 par value: Authorized - 25.0 million shares; Issued and outstanding - none
Additional paid-in-capital	2,212,713	2,152,342
(Accumulated deficit) retained earnings	(1,024,667)	232,967
Accumulated other comprehensive income (loss)	4,540	(4,098)
Total stockholders’ equity	1,192,854	2,381,477
Total liabilities and stockholders' equity	5,426,561	6,612,829
Class A Common Stock
Stockholders' equity:
Common stock value	230	228
Class B-1 Common Stock
Stockholders' equity:
Common stock value	38	38
Class B-2 Common Stock
Stockholders' equity:
Common stock value

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023
Allowance for credit loss, current	$ 1,897	$ 952
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares, issued	230,300,000	228,300,000
Common stock, shares, outstanding	230,300,000	228,300,000
Class B-1 Common Stock
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares, issued	37,800,000	37,800,000
Common stock, shares, outstanding	37,800,000	37,800,000
Class B-2 Common Stock
Common stock, par value per share	$ 0.000001	$ 0.000001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares, issued	37,800,000	37,800,000
Common stock, shares, outstanding	37,800,000	37,800,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Total net sales	$ 1,494,166	$ 1,501,220	$ 4,580,808	$ 4,458,008
Total cost of sales	944,165	903,543	2,833,321	2,658,180
Gross profit	550,001	597,677	1,747,487	1,799,828
Selling, general and administrative expenses	559,611	549,622	1,705,443	1,651,829
Goodwill impairment	1,222,524		1,222,524
Operating (loss) income	(1,232,134)	48,055	(1,180,480)	147,999
Interest income	(1,139)	(130)	(3,079)	(287)
Interest expense	36,557	27,307	111,251	68,761
Loss on partial extinguishment of debt	174		920
Other non-operating (income) loss	(113)	(576)	(4,727)	9,369
(Loss) income before income taxes and income from equity method investees	(1,267,613)	21,454	(1,284,845)	70,156
Income tax (benefit) expense	(22,902)	4,161	(17,178)	20,799
Income from equity method investees	(3,574)	(2,627)	(10,032)	(7,821)
Net (loss) income	(1,241,137)	19,920	(1,257,635)	57,178
Net loss attributable to noncontrolling interest				(891)
Net (loss) income attributable to Class A and B-1 common stockholders	$ (1,241,137)	$ 19,920	$ (1,257,635)	$ 58,069
Net (loss) income per Class A and B-1 common share:
Basic	$ (4.63)	$ 0.07	$ (4.71)	$ 0.22
Diluted	$ (4.63)	$ 0.07	$ (4.71)	$ 0.22
Weighted average shares used in computing net (loss) income per Class A and B-1 common share:
Basic	267,852	265,689	267,167	265,390
Diluted	267,852	265,935	267,167	265,824
Products
Total net sales	$ 1,257,803	$ 1,295,771	$ 3,852,997	$ 3,868,659
Total cost of sales	787,994	759,303	2,366,472	2,229,311
Services and other
Total net sales	236,363	205,449	727,811	589,349
Total cost of sales	$ 156,171	$ 144,240	$ 466,849	$ 428,869

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,241,137)	$ 19,920	$ (1,257,635)	$ 57,178
Net loss attributable to noncontrolling interest				(891)
Net (loss) income attributable to Class A and B-1 common stockholders	(1,241,137)	19,920	(1,257,635)	58,069
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	407	89	2,571	(2,284)
Unrealized gain on derivatives	2,628		5,559
(Gains) losses on derivatives reclassified to income	(286)		508
Total other comprehensive income (loss), net of tax	2,749	89	8,638	(2,284)
Comprehensive (loss) income	(1,238,388)	20,009	(1,248,997)	54,894
Comprehensive loss attributable to noncontrolling interest				(891)
Comprehensive (loss) income attributable to Class A and B-1 common stockholders	$ (1,238,388)	$ 20,009	$ (1,248,997)	$ 55,785

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Common Stock Class A Common Stock	Common Stock Class B-1 Common Stock	Common Stock Class B-2 Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive (Loss) Income	Total Stockholders'/Members' Equity	Noncontrolling Interest
Beginning Balance at Jan. 29, 2022	$ 2,255,819	$ 265				$ 2,133,821	$ 142,166	$ (2,238)	$ 2,274,014	$ (18,195)
Beginning Balance (in shares) at Jan. 29, 2022			227,187	37,791	37,791
Equity-based compensation expense (Note 7)	12,055					12,055			12,055
Net (loss) income	23,802						24,693		24,693	(891)
Foreign currency translation adjustment, net of tax	(1,598)							(1,598)	(1,598)
Issuance of common stock, net of tax withholdings	(2,371)					(2,371)			(2,371)
Issuance of common stock, net of tax withholdings (in shares)			291
Ending Balance at Apr. 30, 2022	2,287,707	265				2,143,505	166,859	(3,836)	2,306,793	(19,086)
Ending Balance (in shares) at Apr. 30, 2022			227,478	37,791	37,791
Beginning Balance at Jan. 29, 2022	2,255,819	265				2,133,821	142,166	(2,238)	2,274,014	(18,195)
Beginning Balance (in shares) at Jan. 29, 2022			227,187	37,791	37,791
Net (loss) income	57,178
Ending Balance at Oct. 29, 2022	2,327,909	266				2,131,930	200,235	(4,522)	2,327,909
Ending Balance (in shares) at Oct. 29, 2022			227,943	37,791	37,791
Beginning Balance at Jan. 29, 2022	2,255,819	265				2,133,821	142,166	(2,238)	2,274,014	(18,195)
Beginning Balance (in shares) at Jan. 29, 2022			227,187	37,791	37,791
Ending Balance at Jan. 28, 2023	2,381,477	266				2,152,342	232,967	(4,098)	2,381,477
Ending Balance (in shares) at Jan. 28, 2023			228,338	37,791	37,791
Beginning Balance at Apr. 30, 2022	2,287,707	265				2,143,505	166,859	(3,836)	2,306,793	(19,086)
Beginning Balance (in shares) at Apr. 30, 2022			227,478	37,791	37,791
Equity-based compensation expense (Note 7)	13,422					13,422			13,422
Net (loss) income	13,456						13,456		13,456
Foreign currency translation adjustment, net of tax	(775)							(775)	(775)
Investment in veterinary joint venture	(35,000)					(54,086)			(54,086)	$ 19,086
Issuance of common stock, net of tax withholdings	336	1				335			336
Issuance of common stock, net of tax withholdings (in shares)			431
Ending Balance at Jul. 30, 2022	2,279,146	266				2,103,176	180,315	(4,611)	2,279,146
Ending Balance (in shares) at Jul. 30, 2022			227,909	37,791	37,791
Equity-based compensation expense (Note 7)	16,069					16,069			16,069
Net (loss) income	19,920						19,920		19,920
Foreign currency translation adjustment, net of tax	89							89	89
Deferred tax effect of investment in veterinary joint venture	12,807					12,807			12,807
Issuance of common stock, net of tax withholdings	(122)					(122)			(122)
Issuance of common stock, net of tax withholdings (in shares)			34
Ending Balance at Oct. 29, 2022	2,327,909	266				2,131,930	200,235	(4,522)	2,327,909
Ending Balance (in shares) at Oct. 29, 2022			227,943	37,791	37,791
Beginning Balance at Jan. 28, 2023	2,381,477	266				2,152,342	232,967	(4,098)	2,381,477
Beginning Balance (in shares) at Jan. 28, 2023			228,338	37,791	37,791
Equity-based compensation expense (Note 7)	22,282					22,282			22,282
Net (loss) income	(1,892)						(1,892)		(1,892)
Foreign currency translation adjustment, net of tax	1,057							1,057	1,057
Unrealized gain (loss) on derivatives (Note 5), net of tax	(984)							(984)	(984)
Gains (Losses) on derivatives reclassified to income (Note 5), net of tax	433							433	433
Issuance of common stock, net of tax withholdings	(1,253)	1				(1,254)			(1,253)
Issuance of common stock, net of tax withholdings (in shares)			727
Ending Balance at Apr. 29, 2023	2,401,120	267				2,173,370	231,075	(3,592)	2,401,120
Ending Balance (in shares) at Apr. 29, 2023			229,065	37,791	37,791
Beginning Balance at Jan. 28, 2023	2,381,477	266				2,152,342	232,967	(4,098)	2,381,477
Beginning Balance (in shares) at Jan. 28, 2023			228,338	37,791	37,791
Net (loss) income	(1,257,635)
Unrealized gain (loss) on derivatives (Note 5), net of tax	5,559
Gains (Losses) on derivatives reclassified to income (Note 5), net of tax	508
Ending Balance at Oct. 28, 2023	1,192,854	268				2,212,713	(1,024,667)	4,540	1,192,854
Ending Balance (in shares) at Oct. 28, 2023			230,293	37,791	37,791
Beginning Balance at Apr. 29, 2023	2,401,120	267				2,173,370	231,075	(3,592)	2,401,120
Beginning Balance (in shares) at Apr. 29, 2023			229,065	37,791	37,791
Equity-based compensation expense (Note 7)	24,322					24,322			24,322
Net (loss) income	(14,606)						(14,606)		(14,606)
Foreign currency translation adjustment, net of tax	1,107							1,107	1,107
Unrealized gain (loss) on derivatives (Note 5), net of tax	3,915							3,915	3,915
Gains (Losses) on derivatives reclassified to income (Note 5), net of tax	361							361	361
Issuance of common stock, net of tax withholdings	(1,456)	1				(1,457)			(1,456)
Issuance of common stock, net of tax withholdings (in shares)			761
Ending Balance at Jul. 29, 2023	2,414,764	268				2,196,235	216,470	1,791	2,414,764
Ending Balance (in shares) at Jul. 29, 2023			229,826	37,791	37,791
Equity-based compensation expense (Note 7)	18,678					18,678			18,678
Net (loss) income	(1,241,137)						(1,241,137)		(1,241,137)
Foreign currency translation adjustment, net of tax	407							407	407
Unrealized gain (loss) on derivatives (Note 5), net of tax	2,628							2,628	2,628
Gains (Losses) on derivatives reclassified to income (Note 5), net of tax	(286)							(286)	(286)
Issuance of common stock, net of tax withholdings	(2,200)					(2,200)			(2,200)
Issuance of common stock, net of tax withholdings (in shares)			467
Ending Balance at Oct. 28, 2023	$ 1,192,854	$ 268				$ 2,212,713	$ (1,024,667)	$ 4,540	$ 1,192,854
Ending Balance (in shares) at Oct. 28, 2023			230,293	37,791	37,791

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022
Cash flows from operating activities:
Net (loss) income	$ (1,257,635)	$ 57,178
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	148,593	143,599
Amortization of debt discounts and issuance costs	3,658	3,694
Provision for deferred taxes	(35,164)	(6,413)
Equity-based compensation	64,431	40,892
Impairments, write-offs and losses on sale of fixed and other assets	2,202	2,299
Loss on partial extinguishment of debt	920
Amounts reclassified out of accumulated other comprehensive income (loss)	674
Income from equity method investees	(10,032)	(7,821)
Goodwill impairment	1,222,524
Non-cash operating lease costs	316,355	316,492
Other non-operating (income) loss	(4,727)	9,369
Changes in assets and liabilities:
Receivables	(600)	9,171
Merchandise inventories	(77,718)	(48,314)
Prepaid expenses and other assets	(6,004)	(2,536)
Accounts payable and book overdrafts	105,421	(19,381)
Accrued salaries and employee benefits	11,586	(16,160)
Accrued expenses and other liabilities	(1,098)	12,110
Operating lease liabilities	(312,935)	(282,954)
Other long-term liabilities	(1,755)	(1,762)
Net cash provided by operating activities	168,696	209,463
Cash flows from investing activities:
Cash paid for fixed assets	(176,532)	(212,074)
Cash paid for acquisitions, net of cash acquired	(4,495)	(7,750)
Cash paid for interest in veterinary joint venture		(35,000)
Proceeds from investment	24,878
Proceeds from sale of assets		2,127
Net cash used in investing activities	(156,149)	(252,697)
Cash flows from financing activities:
Borrowings under long-term debt agreements		123,000
Repayments of long-term debt	(75,000)	(135,750)
Payments for finance lease liabilities	(4,627)	(4,174)
Proceeds from employee stock purchase plan and stock option exercises	3,324	3,472
Tax withholdings on stock-based awards	(7,737)	(13,581)
Net cash used in financing activities	(84,040)	(27,033)
Net decrease in cash, cash equivalents and restricted cash	(71,493)	(70,267)
Cash, cash equivalents and restricted cash at beginning of period	213,727	221,890
Cash, cash equivalents and restricted cash at end of period	142,234	151,623
Supplemental cash flow disclosures:
Interest paid, net	107,229	59,608
Capitalized interest	806	954
Income taxes paid	31,261	9,598
Supplemental non-cash investing and financing activities disclosure:
Accounts payable and accrued expenses for capital expenditures	$ 26,621	$ 33,107

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,241,137)	$ 19,920	$ (1,257,635)	$ 58,069

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Oct. 28, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 28, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1 . Summary of Significant Accounting Policies Basis of Presentation Petco Health and Wellness Company, Inc. (together with its consolidated subsidiaries, the “Company”) is a category-defining health and wellness company focused on improving the lives of pets, pet parents, and its own partners. The Company manages its business as one reportable operating segment. In the opinion of management, the accompanying consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Consolidated Financial Statements. There have been no significant changes from the significant accounting policies disclosed in Note 1 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023. The accompanying consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Interim financial results are not necessarily indicative of results anticipated for the full year. The accompanying consolidated financial statements and these Notes to Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023 , from which the prior year balance sheet information herein was derived. Use of Estimates The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. These estimates are based on information that is currently available and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could vary from those estimates under different assumptions or conditions. Veterinary Joint Venture The Company previously held a 50 % investment in a joint venture with a domestic partner to build and operate veterinary clinics in Petco locations. The joint venture was a variable interest entity for which the Company was the primary beneficiary, and accordingly, the joint venture’s results of operations and statements of financial position were included in the Company’s consolidated financial statements during fiscal 2022. In May 2022, the Company completed the purchase of the remaining 50 % of the issued and outstanding membership interests of the joint venture, which is now a wholly owned subsidiary of the Company, for cash consideration of $ 35.0 million. Direct transaction costs related to this purchase were not material. Derivative Instruments In November 2022, the Company entered into a series of interest rate cap agreements to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to the three-month Secured Overnight Financing Rate as published by CME Group ("Term SOFR"). The interest rate caps became effective December 30, 2022 and expire on December 31, 2024. The interest rate caps are accounted for as cash flow hedges, and changes in the fair value of the interest rate caps are reported as a component of accumulated other comprehensive income (loss) ("AOCI"). In March 2023, the Company entered into an interest rate collar agreement to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to three-month Term SOFR. The interest rate collar became effective March 31, 2023 and expires on March 31, 2026. The interest rate collar is accounted for as a cash flow hedge, and changes in the fair value of the interest rate collar are reported as a component of AOCI. In June 2023, the Company entered into an interest rate collar agreement to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to three-month Term SOFR. The interest rate collar became effective September 30, 2023 and expires on December 31, 2026. The interest rate collar is accounted for as a cash flow hedge, and changes in the fair value of the interest rate collar are reported as a component of AOCI. Cash and Cash Equivalents The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets to the total amounts reported in the consolidated statements of cash flows (in thousands): October 28, January 28, Cash and cash equivalents $ 139,782 $ 201,901 Restricted cash included in other current assets 2,452 11,826 Total cash, cash equivalents and restricted cash in $ 142,234 $ 213,727

Revenue Recognition

Revenue Recognition	9 Months Ended
	Oct. 28, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	2. Revenue Recognition Net sales by product type and services were as follows (in thousands): Thirteen weeks ended Thirty-nine weeks ended October 28, October 29, October 28, October 29, Consumables $ 733,277 $ 720,512 $ 2,230,405 $ 2,093,510 Supplies and companion animals 524,526 575,259 1,622,592 1,775,149 Services and other 236,363 205,449 727,811 589,349 Net sales $ 1,494,166 $ 1,501,220 $ 4,580,808 $ 4,458,008

Goodwill

Goodwill	9 Months Ended
	Oct. 28, 2023
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	3. Goodwill The changes in the carrying amount of the Company’s goodwill were as follows (in thousands): Thirty-nine weeks ended October 28, Beginning balance: Goodwill $ 3,001,904 Accumulated impairment ( 807,963 ) Goodwill, net $ 2,193,941 Additions from acquisitions 4,830 Impairment ( 1,222,524 ) Ending balance: Goodwill $ 3,006,734 Accumulated impairment ( 2,030,487 ) Goodwill, net $ 976,247 The Company has one reporting unit. The Company performs its annual impairment test during the fourth quarter of each fiscal year or more frequently when warranted by events or changes in circumstances. During the third quarter of fiscal 2023, the Company concluded that indicators of impairment existed due to declines in the Company's share price, as well as current macroeconomic conditions, and performed an interim impairment test. The fair value of the Company’s reporting unit was estimated by management with the assistance of a third-party valuation specialist. Fair value estimates used in the quantitative impairment test were calculated using a combination of discounted cash flow analysis and a public company analysis. The discounted cash flow analysis measures the value of an asset by the present value of its future estimated cash flows. The Company makes estimates and assumptions about sales, gross margins, selling, general and administrative percentages and profit margins, based on budgets and forecasts, business plans, economic projections, anticipated future cash flows, and marketplace data. The public company analysis analyzes transactional and financial data of publicly traded companies to develop valuation multiples. These multiples are then applied to the Company to develop an indication of fair value. Significant assumptions used in the determination of fair value of the reporting unit generally include prospective financial information, discount rates, terminal growth rates and earnings multiples. The discounted cash flow model used to determine the fair value of the reporting unit during the third quarter of fiscal 2023 reflected the Company's most recent cash flow projections, a discount rate of 16.4 % and a terminal growth rate of 3 %. The reporting unit fair value measurement is classified as Level 3 in the fair value hierarchy because it involves significant unobservable inputs. As a result of the impairment test, the Company concluded that the carrying value of the Company’s reporting unit exceeded its fair value and recorded a pre-tax goodwill impairment charge of $ 1,222.5 million for the thirteen week period ended October 28, 2023. This charge was recorded in goodwill impairment in the consolidated statements of operations.

Senior Secured Credit Facilitie

Senior Secured Credit Facilities	9 Months Ended
	Oct. 28, 2023
Debt Disclosure [Abstract]
Senior Secured Credit Facilities	4 . Senior Secured Credit Facilities On March 4, 2021 , the Company entered into a $ 1,700.0 million secured term loan facility maturing on March 4, 2028 (the “First Lien Term Loan”) and a secured asset-based revolving credit facility with availability of up to $ 500.0 million, subject to a borrowing base, maturing on March 4, 2026 (the “ABL Revolving Credit Facility”). As of October 28, 2023 , the Company was in compliance with its covenants under the First Lien Term Loan and the ABL Revolving Credit Facility. Term Loan Facilities On December 12, 2022, the Company amended the First Lien Term Loan to replace the LIBOR-based rate with a SOFR-based rate as the interest rate benchmark. Interest on the First Lien Term Loan is based on, at the Company’s option, either a base rate or Term SOFR plus the credit spread adjustment recommended by the Alternative Reference Rates Committee ("Adjusted Term SOFR"), subject to a 0.75 % floor, payable upon maturity of the SOFR contract, in either case plus the applicable rate. The base rate is the greater of the bank prime rate, federal funds effective rate plus 0.5 % or Adjusted Term SOFR plus 1.0 %. The applicable rate is 2.25 % per annum for a base rate loan or 3.25 % per annum for an Adjusted Term SOFR loan. Principal and interest payments commenced on June 30, 2021. Principal payments are normally $ 4.25 million quarterly. The Company voluntarily prepaid $ 35.0 million, $ 25.0 million and $ 15.0 million of the First Lien Term Loan using existing cash on hand in March 2023, May 2023, and August 2023, respectively. The repayments were applied to the remaining principal payments in order of scheduled payment date and, as a result, the entire remaining balance was included in senior secured credit facilities, net, excluding current portion in the consolidated balance sheets as of October 28, 2023 . The Company accounted for the repayments as partial extinguishments and recognized losses on debt extinguishment of $ 0.2 million and $ 0.9 million during the thirteen and thirty-nine week periods ended October 28, 2023, respectively. As of October 28, 2023, the outstanding principal balance of the First Lien Term Loan was $ 1,595.3 million ($ 1,577.6 million, net of the unamortized discount and debt issuance costs). As of January 28, 2023, the outstanding principal balance of the First Lien Term Loan was $ 1,670.3 million ($ 1,648.9 million, net of the unamortized discount and debt issuance costs). The weighted average interest rate on the borrowings outstanding was 9.0 % and 8.2 % as of October 28, 2023 and January 28, 2023, respectively. Debt issuance costs are being amortized over the contractual term to interest expense using the effective interest rate in effect at issuance. As of October 28, 2023 and January 28, 2023, the estimated fair value of the First Lien Term Loan was approximately $ 1,553.4 million and $ 1,649.4 million, respectively, based upon Level 2 fair value hierarchy inputs. Revolving Credit Facilities As of October 28, 2023 and January 28, 2023 , no amounts were outstanding under the ABL Revolving Credit Facility. As of October 28, 2023, $ 446.6 million was available under the ABL Revolving Credit Facility, which is net of $ 53.4 million of outstanding letters of credit issued in the normal course of business and no borrowing base reduction for a shortfall in qualifying assets. As of October 28, 2023 and January 28, 2023, unamortized debt issuance costs of $ 2.7 million and $ 3.6 million, respectively, relating to the ABL Revolving Credit Facility were outstanding and were being amortized using the straight-line method over the remaining term of the agreement. The ABL Revolving Credit Facility has availability up to $ 500.0 million and a $ 150.0 million letter of credit sub-facility. The availability is limited to a borrowing base, which allows borrowings of up to 90 % of eligible accounts receivable plus 90 % of the net orderly liquidation value of eligible inventory plus up to $ 50.0 million of qualified cash of the Company to which the Company and guarantors have no access, less reserves as determined by the administrative agent. Letters of credit reduce the amount available to borrow under the ABL Revolving Credit Facility by their face value. On December 12, 2022, the Company amended the ABL Revolving Credit Facility to replace the LIBOR-based rate with a SOFR-based rate as the interest rate benchmark. Interest on the ABL Revolving Credit Facility is based on, at the Company’s option, either the base rate or Adjusted Term SOFR subject to a floor of 0 %, in either case, plus an applicable margin. The applicable margin is currently equal to 25 basis points in the case of base rate loans and 125 basis points in the case of Adjusted Term SOFR loans. The applicable margin is adjusted quarterly based on the average historical excess availability as a percentage of the Line Cap, which represents the lesser of the aggregate ABL Revolving Credit Facility and the borrowing base, as follows: Average Historical Excess Availability Applicable Applicable Less than 33.3 % of the Line Cap 1.75 % 0.75 % Less than 66.7 % but greater than or equal to 33.3 % of 1.50 % 0.50 % Greater than or equal to 66.7 % of the Line Cap 1.25 % 0.25 % The ABL Revolving Credit Facility is subject to an unused commitment fee. If the actual daily utilized portion exceeds 50%, the unused commitment fee is 0.25 %. Otherwise, the unused commitment fee is 0.375 % and is not dependent upon excess availability.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Oct. 28, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	5 . Derivative Instruments The interest rate caps and collars are accounted for as cash flow hedges because they are expected to be highly effective in hedging variable rate interest payments. Changes in the fair value of the cash flow hedges are reported as a component of AOCI. As of October 28, 2023, AOCI included unrealized gains of $ 5.3 million ($ 4.0 million, net of tax). Approximately $ 0.4 million of pre-tax gains deferred in AOCI were reclassified to interest expense during the thirteen week period ended October 28, 2023. Approximately $ 0.7 million of pre-tax losses deferred in AOCI were reclassified to interest expense during the thirty-nine week period ended October 28, 2023. As of January 28, 2023 , AOCI included unrealized losses of $ 2.7 million ($ 2.1 million, net of tax). The Company currently estimates t hat $ 3.2 million of losses related to trade date costs on its cash flow hedges that are currently deferred in AOCI will be reclassified to interest expense in the consolidated statement of operations within the next twelve months. This estimate could vary based on actual amounts as a result of changes in market conditions. The cash flow hedges are reflected in the Company’s consolidated balance sheets as follows (in thousands): Assets (Liabilities) Balance sheet location October 28, January 28, Current asset portion of cash flow hedges Other current assets $ 5,057 $ — Non-current asset portion of cash flow Other long-term assets 1,691 — Current liability portion of cash flow Accrued expenses and other — ( 1,176 ) Non-current liability portion of cash flow Other long-term liabilities — ( 1,717 ) Total cash flow hedges $ 6,748 $ ( 2,893 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 28, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	6 . Fair Value Measurements Assets and Liabilities Measured on a Recurring Basis The following table presents information about assets and liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value (in thousands): October 28, 2023 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 85,965 $ — $ — Investments of officers' life insurance $ — $ 12,362 $ — Non-qualified deferred compensation plan $ — $ ( 18,184 ) $ — January 28, 2023 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 156,626 $ — $ — Investments of officers' life insurance $ — $ 13,112 $ — Non-qualified deferred compensation plan $ — $ ( 18,464 ) $ — Investment in Rover Group, Inc. $ 20,152 $ — $ — The fair value of money market mutual funds is based on quoted market prices, such as quoted net asset values published by the fund as supported in an active market. Money market mutual funds included in the Company’s cash and cash equivalents were $ 85.0 million and $ 145.5 million as of October 28, 2023 and January 28, 2023, respectively. Also included in the Company’s money market mutual funds balances were $ 1.0 million and $ 11.1 million as of October 28, 2023 and January 28, 2023, respectively, which relate to the Company’s restricted cash, and are included in other current assets in the consolidated balance sheets. The Company maintains a deferred compensation plan for key executives and other members of management, which is funded by investments in officers’ life insurance. The fair value of this obligation is based on participants’ elected investments, which reflect the closing market prices of similar assets. In April 2023, the Company sold its interest in Rover Group, Inc. Class A common stock to a buyer at a price determined based on the daily volume weighted average price, in addition to a premium, over an agreed upon period. The cash proceeds were received throughout fiscal 2023, with the final payment being received in August 2023. The Company's interest in the unsettled cash proceeds were remeasured at fair value at each reporting period, and the resulting gains or losses were included in other non-operating income in the consolidated statements of operations. Assets Measured on a Non-Recurring Basis The Company’s non-financial assets, which primarily consist of goodwill, other intangible assets, fixed assets and equity and other investments, are reported at carrying value, or at fair value as of the date of the Company’s acquisition of Petco Holdings, Inc. LLC on January 26, 2016, and are not required to be measured at fair value on a recurring basis. However, on a periodic basis (at least annually for goodwill and indefinite-lived intangibles or whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable), non-financial assets are assessed for impairment. If impaired, the carrying values of the assets are written down to fair value using Level 3 inputs. The Company’s trade name has an indefinite life. The Company performs its annual impairment test during the fourth quarter of each fiscal year, or more frequently when warranted by events or changes in circumstances. During the third quarter of fiscal 2023, the Company concluded that indicators of impairment existed due to declines in the Company's share price, as well as current macroeconomic conditions, and performed interim impairment tests of its goodwill and indefinite-lived trade name. Refer to Note 3 for further discussion of the results of impairment testing performed on the Company’s goodwill. The fair value of the Company’s trade name was estimated by management with the assistance of a third-party valuation specialist using the relief from royalty valuation method, which estimates the hypothetical royalties that would have to be paid if the trade name was not owned. The fair value of the Company's trade name reflected the Company's most recent revenue projections, a discount rate of 17.4 % and a terminal growth rate of 3 %. The Company concluded that the fair value of its trade name exceeded its carrying value, and therefore no trade name impairment charge was recorded during the third quarter of fiscal 2023. The Company's trade name fair value measurement is classified as Level 3 in the fair value hierarchy because it involves significant unobservable inputs. There were no indications of impairment of the Company’s other intangible assets or equity and other investments during the thirteen or thirty-nine week periods ended October 28, 2023. There were no triggering events identified and no indication of impairment of the Company’s goodwill, indefinite-lived trade name, other intangible assets or equity and other investments during the thirteen or thirty-nine week periods ended October 29, 2022. During the thirteen and thirty-nine week periods ended October 28, 2023, the Company recorded fixed asset and right-of-use asset impairment charges of $ 1.0 million and $ 2.1 million, respectively. During the thirteen and thirty- nine week periods ended October 29, 2022, the Company recorded fixed asset and right-of-use asset impairment charges of $ 0.8 million and $ 1.8 million, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Oct. 28, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	7 . Stockholders’ Equity Equity-Based Compensation Equity-based compensation awards under the Company’s current equity incentive plan (the “2021 Equity Incentive Plan”) include restricted stock units (“RSUs,” which include performance-based stock units), restricted stock awards (“RSAs”), non-qualified stock options, and other equity compensation awards. The Company also has an employee stock purchase plan (“ESPP”). The Company’s controlling parent, Scooby LP, also maintains an incentive plan (the “2016 Incentive Plan”) under which it has awarded partnership unit awards to certain current and former employees, consultants, and non-employee directors of the Company that are restricted profit interests in Scooby LP subject to a distribution threshold (“Series C Units”). The following table summarizes the Company’s equity-based compensation expense by award type (in thousands): Thirteen weeks ended Thirty-nine weeks ended October 28, October 29, October 28, October 29, RSUs and RSAs $ 12,917 $ 9,602 $ 44,191 $ 24,759 Options 4,098 1,820 14,100 5,666 ESPP 264 315 1,118 927 Other awards 904 4,038 5,022 9,540 Total equity-based compensation expense $ 18,183 $ 15,775 $ 64,431 $ 40,892 Activity under the 2021 Equity Incentive Plan was as follows (shares and dollars in thousands): RSUs and RSAs Options Nonvested/outstanding, January 28, 2023 7,802 7,814 Granted 7,368 — Vested and delivered/exercised ( 2,582 ) — Forfeited/expired ( 1,680 ) ( 560 ) Nonvested/outstanding, October 28, 2023 10,908 7,254 Unrecognized compensation expense as of October 28, 2023 $ 91,974 $ 15,654 Weighted average remaining expense period as of October 28, 2023 1.9 years 1.1 years RSA activity has not been material and relates to an RSA of Class A common stock granted to an executive in March 2021. For this grant, 50 % of the RSA vested on each of the first two anniversaries of the grant date. Unvested RSAs were not considered participating securities for earnings per share purposes, as any related dividends were forfeitable. The ESPP allows eligible employees to contribute up to 15 % of their base earnings towards purchases of Class A common stock, subject to an annual maximum. The purchase price will be 85 % of the lower of (i) the fair market value of the stock on the associated lookback date and (ii) the fair market value of the stock on the last day of the related purchase period. Series C Unit activity under the 2016 Incentive Plan was as follows (in thousands): Units Outstanding, January 28, 2023 201,359 Granted — Forfeited ( 1,557 ) Outstanding, October 28, 2023 199,802 Vested, October 28, 2023 175,829 No additional Series C Units have been or will be awarded following the Company’s initial public offering. As of October 28, 2023, unrecognized compensation expense related to the unvested portion of Scooby LP’s Series C Units was $ 4.3 million, which is expected to be recognized over a weighted average period of 0.9 years. In addition to acceleration upon a change in control, a portion of grantees’ Series C Units may vest upon certain levels of direct or indirect sales by Scooby LP of the Company’s Class A common stock, and all unvested Series C Units will fully accelerate in the event Scooby LP sells 90 % of its direct or indirect holdings of the Company’s Class A common stock. (Loss) Income Per Share Potentially dilutive securities include potential Class A common shares related to outstanding stock options, unvested RSUs and RSAs, and the ESPP, calculated using the treasury stock method. The calculation of diluted shares outstanding excludes securities where the combination of the exercise or purchase price (in the case of options and the ESPP) and the associated unrecognized compensation expense is greater than the average market price of Class A common shares because the inclusion of these securities would be anti-dilutive. All outstanding equity awards were excluded from the calculation of diluted loss per Class A and B-1 common share in the thirty-nine weeks ended October 28, 2023, as their effect would be antidilutive in a net loss period . There were approximately 5.3 million potential shares that were anti-dilutive and excluded from the computation of diluted shares outstanding during the thirty-nine weeks ended October 29, 2022 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 28, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8 . Commitments and Contingencies The Company is involved in legal proceedings and is subject to other claims and litigation arising in the ordinary course of its business. The Company has made accruals with respect to certain of these matters, where appropriate, which are reflected in the Company’s consolidated financial statements but are not, individually or in the aggregate, considered material. For other matters, the Company has not made accruals because management has not yet determined that a loss is probable or because the amount of loss cannot be reasonably estimated. While the ultimate outcome of the matters cannot be determined, the Company currently does not expect that these matters will have a material adverse effect on its consolidated financial statements. The outcome of any litigation is inherently uncertain, however, and if decided adversely to the Company, or if the Company determines that settlement of particular litigation is appropriate, the Company may be subject to liability that could have a material adverse effect on its consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 28, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Petco Health and Wellness Company, Inc. (together with its consolidated subsidiaries, the “Company”) is a category-defining health and wellness company focused on improving the lives of pets, pet parents, and its own partners. The Company manages its business as one reportable operating segment. In the opinion of management, the accompanying consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Consolidated Financial Statements. There have been no significant changes from the significant accounting policies disclosed in Note 1 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023. The accompanying consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Interim financial results are not necessarily indicative of results anticipated for the full year. The accompanying consolidated financial statements and these Notes to Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023 , from which the prior year balance sheet information herein was derived.
Use of Estimates	Use of Estimates The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. These estimates are based on information that is currently available and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could vary from those estimates under different assumptions or conditions.
Veterinary Joint Venture	Veterinary Joint Venture The Company previously held a 50 % investment in a joint venture with a domestic partner to build and operate veterinary clinics in Petco locations. The joint venture was a variable interest entity for which the Company was the primary beneficiary, and accordingly, the joint venture’s results of operations and statements of financial position were included in the Company’s consolidated financial statements during fiscal 2022. In May 2022, the Company completed the purchase of the remaining 50 % of the issued and outstanding membership interests of the joint venture, which is now a wholly owned subsidiary of the Company, for cash consideration of $ 35.0 million. Direct transaction costs related to this purchase were not material.
Derivative Instruments	Derivative Instruments In November 2022, the Company entered into a series of interest rate cap agreements to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to the three-month Secured Overnight Financing Rate as published by CME Group ("Term SOFR"). The interest rate caps became effective December 30, 2022 and expire on December 31, 2024. The interest rate caps are accounted for as cash flow hedges, and changes in the fair value of the interest rate caps are reported as a component of accumulated other comprehensive income (loss) ("AOCI"). In March 2023, the Company entered into an interest rate collar agreement to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to three-month Term SOFR. The interest rate collar became effective March 31, 2023 and expires on March 31, 2026. The interest rate collar is accounted for as a cash flow hedge, and changes in the fair value of the interest rate collar are reported as a component of AOCI. In June 2023, the Company entered into an interest rate collar agreement to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to three-month Term SOFR. The interest rate collar became effective September 30, 2023 and expires on December 31, 2026. The interest rate collar is accounted for as a cash flow hedge, and changes in the fair value of the interest rate collar are reported as a component of AOCI.
Cash and Cash Equivalents	Cash and Cash Equivalents The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets to the total amounts reported in the consolidated statements of cash flows (in thousands): October 28, January 28, Cash and cash equivalents $ 139,782 $ 201,901 Restricted cash included in other current assets 2,452 11,826 Total cash, cash equivalents and restricted cash in $ 142,234 $ 213,727

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Oct. 28, 2023
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets to the total amounts reported in the consolidated statements of cash flows (in thousands): October 28, January 28, Cash and cash equivalents $ 139,782 $ 201,901 Restricted cash included in other current assets 2,452 11,826 Total cash, cash equivalents and restricted cash in $ 142,234 $ 213,727

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Oct. 28, 2023
Revenue from Contract with Customer [Abstract]
Summary of Net Sales by Product Type and Services	Net sales by product type and services were as follows (in thousands): Thirteen weeks ended Thirty-nine weeks ended October 28, October 29, October 28, October 29, Consumables $ 733,277 $ 720,512 $ 2,230,405 $ 2,093,510 Supplies and companion animals 524,526 575,259 1,622,592 1,775,149 Services and other 236,363 205,449 727,811 589,349 Net sales $ 1,494,166 $ 1,501,220 $ 4,580,808 $ 4,458,008

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Oct. 28, 2023
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of the Company’s goodwill were as follows (in thousands): Thirty-nine weeks ended October 28, Beginning balance: Goodwill $ 3,001,904 Accumulated impairment ( 807,963 ) Goodwill, net $ 2,193,941 Additions from acquisitions 4,830 Impairment ( 1,222,524 ) Ending balance: Goodwill $ 3,006,734 Accumulated impairment ( 2,030,487 ) Goodwill, net $ 976,247

Senior Secured Credit Facilit_2

Senior Secured Credit Facilities (Tables)	9 Months Ended
	Oct. 28, 2023
Debt Disclosure [Abstract]
Applicable Margin for Adjusted LIBOR Loans and Base Rate Loans based on Average Historical Excess Availability	The applicable margin is adjusted quarterly based on the average historical excess availability as a percentage of the Line Cap, which represents the lesser of the aggregate ABL Revolving Credit Facility and the borrowing base, as follows: Average Historical Excess Availability Applicable Applicable Less than 33.3 % of the Line Cap 1.75 % 0.75 % Less than 66.7 % but greater than or equal to 33.3 % of 1.50 % 0.50 % Greater than or equal to 66.7 % of the Line Cap 1.25 % 0.25 %

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Oct. 28, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Cash Flow Hedges Reflected in Consolidated Balance Sheets	The cash flow hedges are reflected in the Company’s consolidated balance sheets as follows (in thousands): Assets (Liabilities) Balance sheet location October 28, January 28, Current asset portion of cash flow hedges Other current assets $ 5,057 $ — Non-current asset portion of cash flow Other long-term assets 1,691 — Current liability portion of cash flow Accrued expenses and other — ( 1,176 ) Non-current liability portion of cash flow Other long-term liabilities — ( 1,717 ) Total cash flow hedges $ 6,748 $ ( 2,893 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 28, 2023
Fair Value Disclosures [Abstract]
Schedule of Information About Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents information about assets and liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value (in thousands): October 28, 2023 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 85,965 $ — $ — Investments of officers' life insurance $ — $ 12,362 $ — Non-qualified deferred compensation plan $ — $ ( 18,184 ) $ — January 28, 2023 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 156,626 $ — $ — Investments of officers' life insurance $ — $ 13,112 $ — Non-qualified deferred compensation plan $ — $ ( 18,464 ) $ — Investment in Rover Group, Inc. $ 20,152 $ — $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Oct. 28, 2023
Stockholders' Equity Note [Abstract]
Summary of Equity-based Compensation Expense by Award Type	The following table summarizes the Company’s equity-based compensation expense by award type (in thousands): Thirteen weeks ended Thirty-nine weeks ended October 28, October 29, October 28, October 29, RSUs and RSAs $ 12,917 $ 9,602 $ 44,191 $ 24,759 Options 4,098 1,820 14,100 5,666 ESPP 264 315 1,118 927 Other awards 904 4,038 5,022 9,540 Total equity-based compensation expense $ 18,183 $ 15,775 $ 64,431 $ 40,892
Schedule of Nonvested Share Activity	Activity under the 2021 Equity Incentive Plan was as follows (shares and dollars in thousands): RSUs and RSAs Options Nonvested/outstanding, January 28, 2023 7,802 7,814 Granted 7,368 — Vested and delivered/exercised ( 2,582 ) — Forfeited/expired ( 1,680 ) ( 560 ) Nonvested/outstanding, October 28, 2023 10,908 7,254 Unrecognized compensation expense as of October 28, 2023 $ 91,974 $ 15,654 Weighted average remaining expense period as of October 28, 2023 1.9 years 1.1 years
Schedule of Series C Unit Activity Under 2016 Incentive Plan	Series C Unit activity under the 2016 Incentive Plan was as follows (in thousands): Units Outstanding, January 28, 2023 201,359 Granted — Forfeited ( 1,557 ) Outstanding, October 28, 2023 199,802 Vested, October 28, 2023 175,829

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	1 Months Ended	9 Months Ended
	May 31, 2022 USD ($)	Oct. 28, 2023 Segment
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments		1
Number of operating segments		1
Variable Interest Entities, Primary Beneficiary
Summary Of Significant Accounting Policies [Line Items]
VIEs' ownership percentage		50%
VIEs' agreement to purchase remaining ownership percentage	50%
Cash consideration | $	$ 35

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023
Accounting Policies [Abstract]
Cash and cash equivalents	$ 139,782	$ 201,901
Restricted cash included in other current assets	$ 2,452	$ 11,826
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]	Other current assets	Other current assets
Total cash, cash equivalents and restricted cash in the statement of cash flows	$ 142,234	$ 213,727

Revenue Recognition - Summary o

Revenue Recognition - Summary of Net Sales by Product Type and Services (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 1,494,166	$ 1,501,220	$ 4,580,808	$ 4,458,008
Consumables
Disaggregation Of Revenue [Line Items]
Net sales	733,277	720,512	2,230,405	2,093,510
Supplies and companion animals
Disaggregation Of Revenue [Line Items]
Net sales	524,526	575,259	1,622,592	1,775,149
Services and other
Disaggregation Of Revenue [Line Items]
Net sales	$ 236,363	$ 205,449	$ 727,811	$ 589,349

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Oct. 28, 2023 USD ($)
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Goodwill	$ 3,001,904
Accumulated impairment	(807,963)
Goodwill, net	2,193,941
Additions from acquisitions	4,830
Impairment	(1,222,524)
Goodwill	3,006,734
Accumulated impairment	(2,030,487)
Goodwill, net	$ 976,247

Goodwill (Additional Informatio

Goodwill (Additional Information) (Details) $ in Millions	9 Months Ended
	Oct. 28, 2023 USD ($) Segment
Indefinite-Lived Intangible Assets [Line Items]
Number of reporting units | Segment	1
Goodwill and indefinite-lived intangible impairment | $	$ 1,222.5
Level 3
Indefinite-Lived Intangible Assets [Line Items]
Discounted cash flow to determine fair value discount rate percent	16.40%
Discounted cash flow terminal growth rate percent	3%

Senior Secured Credit Facilit_3

Senior Secured Credit Facilities - Additional Information (Details) - USD ($)			1 Months Ended			3 Months Ended	9 Months Ended
	Dec. 12, 2022	Mar. 04, 2021	Aug. 31, 2023	May 31, 2023	Mar. 31, 2023	Oct. 28, 2023	Oct. 28, 2023	Jan. 28, 2023
Line Of Credit Facility [Line Items]
Credit facility, covenant compliance							the Company was in compliance with its covenants under the First Lien Term Loan and the ABL Revolving Credit Facility.
Loss on debt extinguishment						$ (174,000)	$ (920,000)
Letter of credit sub facility						150,000,000	$ 150,000,000
Maximum borrowing capacity of eligible accounts receivable in percentage							90%
Borrowing capacity of net orderly liquidation value of eligible inventory in percentage							90%
Qualified cash						50,000,000	$ 50,000,000
Amended Term Loan Facility
Line Of Credit Facility [Line Items]
Weighted average interest rate								8.20%
First Lien Term Loan
Line Of Credit Facility [Line Items]
Borrowings under credit facility		$ 1,700,000,000
Debt instrument floor rate	0.75%
Quarterly principal payments	$ 4,250,000
Credit facility principal repaid			$ 15,000,000	$ 25,000,000	$ 35,000,000
Outstanding principal balance, gross						1,595,300,000	1,595,300,000	$ 1,670,300,000
Outstanding principal balance, net of unamortized discount and debt issuance costs						$ 1,577,600,000	$ 1,577,600,000	1,648,900,000
Weighted average interest rate						9%	9%
First Lien Term Loan | Level 2
Line Of Credit Facility [Line Items]
Estimated fair value of credit facility						$ 1,553,400,000	$ 1,553,400,000	1,649,400,000
First Lien Term Loan | Base Rate
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.50%
Applicable annual rate	2.25%
First Lien Term Loan | Adjusted SOFR
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1%
Applicable annual rate	3.25%
Amended Revolving Credit Facility
Line Of Credit Facility [Line Items]
Outstanding principal balance, net of unamortized discount and debt issuance costs								0
ABL Revolving Credit Facility
Line Of Credit Facility [Line Items]
Credit facility, initiation date		Mar. 04, 2021
Borrowings under credit facility		$ 500,000,000
Credit facility, maturity date							Mar. 04, 2026
Outstanding principal balance, net of unamortized discount and debt issuance costs						0	$ 0
Unamortized debt issuance costs						2,700,000	2,700,000	$ 3,600,000
Borrowings available under credit facility						446,600,000	446,600,000
Outstanding letters of credit						53,400,000	53,400,000
Borrowings base reduction						$ 0	0
Maximum borrowing capacity							$ 500,000,000
Amended Revolving Credit Facility
Line Of Credit Facility [Line Items]
Debt instrument floor rate							0%
Line of credit facility, unused commitment fee percentage							0.375%
Amended Revolving Credit Facility | Actual Daily Utilized Portion Exceeds 50%
Line Of Credit Facility [Line Items]
Line of credit facility, unused commitment fee percentage							0.25%
Amended Revolving Credit Facility | Base Rate
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate							0.25%
Amended Revolving Credit Facility | LIBOR
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate							1.25%

Senior Secured Credit Facilit_4

Senior Secured Credit Facilities - Applicable Margin for Adjusted LIBOR Loans and Base Rate Loans based on Average Historical Excess Availability (Details) - Amended Revolving Credit Facility	9 Months Ended
	Oct. 28, 2023
Applicable Margin for Adjusted SOFR Loans | Less than 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	1.75%
Applicable Margin for Adjusted SOFR Loans | Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	1.50%
Applicable Margin for Adjusted SOFR Loans | Greater than or Equal to 66.7% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	1.25%
Applicable Margin for Base Rate Loans
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.25%
Applicable Margin for Base Rate Loans | Less than 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.75%
Applicable Margin for Base Rate Loans | Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.50%
Applicable Margin for Base Rate Loans | Greater than or Equal to 66.7% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.25%

Senior Secured Credit Facilit_5

Senior Secured Credit Facilities - Applicable Margin for Adjusted LIBOR Loans and Base Rate Loans based on Average Historical Excess Availability (Parenthetical) (Details) - Amended Revolving Credit Facility	9 Months Ended
	Oct. 28, 2023
Less than 33.3% of the Line Cap | Applicable Margin for Adjusted SOFR Loans | Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Less than 33.3% of the Line Cap | Applicable Margin for Base Rate Loans | Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap | Applicable Margin for Adjusted SOFR Loans | Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap | Applicable Margin for Adjusted SOFR Loans | Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap | Applicable Margin for Base Rate Loans | Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap | Applicable Margin for Base Rate Loans | Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Greater than or Equal to 66.7% of the Line Cap | Applicable Margin for Adjusted SOFR Loans | Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%
Greater than or Equal to 66.7% of the Line Cap | Applicable Margin for Base Rate Loans | Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Oct. 28, 2023	Jan. 28, 2023
Derivative [Line Items]
Unrealized gain on derivatives	$ 2,628	$ 3,915	$ (984)	$ 5,559
Interest Rate Caps
Derivative [Line Items]
Unrealized gains (losses) included in AOCI, before tax				5,300	$ 2,700
Pre-tax gain (losses) deferred in reclassified to interest expense	$ 400			(700)
Unrealized gain on derivatives				$ 4,000	2,100
Estimated losses on interest rate caps deferred in AOCI reclassified to interest expense					$ 3,200

Derivative Instruments - Summar

Derivative Instruments - Summary of Cash Flow Hedges Reflected in Consolidated Balance Sheets (Details) - Cash Flow Hedging [Member] - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023
Derivative [Line Items]
Current asset portion of cash flow hedges	$ 5,057
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current
Non-current asset portion of cash flow hedges	$ 1,691
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent
Current liability portion of cash flow hedges		$ (1,176)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current
Non-current liability portion of cash flow hedges		$ (1,717)
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Total cash flow hedges	$ 6,748	$ (2,893)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Information About Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023
Level 1 | Money Market Mutual Funds
Assets (liabilities):
Asset fair value	$ 85,965	$ 156,626
Level 1 | Investments of Officers' Life Insurance
Assets (liabilities):
Asset fair value	0	0
Level 1 | Investment in Rover Group, Inc.
Assets (liabilities):
Asset fair value		20,152
Level 2 | Money Market Mutual Funds
Assets (liabilities):
Asset fair value	0	0
Level 2 | Investments of Officers' Life Insurance
Assets (liabilities):
Asset fair value	12,362	13,112
Level 2 | Investment in Rover Group, Inc.
Assets (liabilities):
Asset fair value		0
Level 3 | Money Market Mutual Funds
Assets (liabilities):
Asset fair value	0	0
Level 3 | Investments of Officers' Life Insurance
Assets (liabilities):
Asset fair value	0	0
Level 3 | Investment in Rover Group, Inc.
Assets (liabilities):
Asset fair value		0
Non-qualified Deferred Compensation Plan | Level 1
Assets (liabilities):
Liabilities fair value	0	0
Non-qualified Deferred Compensation Plan | Level 2
Assets (liabilities):
Liabilities fair value	(18,184)	(18,464)
Non-qualified Deferred Compensation Plan | Level 3
Assets (liabilities):
Liabilities fair value	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	3 Months Ended		9 Months Ended
	Oct. 28, 2023 USD ($)	Oct. 29, 2022 USD ($)	Oct. 28, 2023 USD ($)	Oct. 29, 2022 USD ($)	Jan. 28, 2023 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of fixed asset and right-of-use asset	$ 1,000,000	$ 800,000	$ 2,100,000	$ 1,800,000
Discount Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Percentage of revenue projections	17.4		17.4
Terminal Growth Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Percentage of revenue projections	3		3
Trade Name
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge of indefinite-lived intangible assets	$ 0
Cash and Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Money market mutual funds	85,000,000		$ 85,000,000		$ 145,500,000
Restricted Cash | Other Current Assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Money market mutual funds	$ 1,000,000		$ 1,000,000		$ 11,100,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Equity-based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	$ 18,183	$ 15,775	$ 64,431	$ 40,892
RSUs and RSAs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	12,917	9,602	44,191	24,759
Employee Stock Option
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	4,098	1,820	14,100	5,666
ESPP
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	264	315	1,118	927
Other Awards
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	$ 904	$ 4,038	$ 5,022	$ 9,540

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Nonvested Share Activity (Details) - 2021 Equity Incentive Plan shares in Thousands, $ in Thousands	9 Months Ended
	Oct. 28, 2023 USD ($) shares
RSUs and RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested/outstanding, January 28, 2023	7,802
Granted	7,368
Vested and delivered/exercised	(2,582)
Forfeited/expired	(1,680)
Nonvested/outstanding, October 28, 2023	10,908
Unrecognized compensation expense as of October 28, 2023 | $	$ 91,974
Weighted average remaining expense period as of October 28, 2023	1 year 10 months 24 days
Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, January 28, 2023	7,814
Forfeited/expired	(560)
Options outstanding, October 28, 2023	7,254
Unrecognized compensation expense as of October 28, 2023 | $	$ 15,654
Weighted average remaining expense period as of October 28, 2023	1 year 1 month 6 days

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Mar. 31, 2021	Oct. 28, 2023	Oct. 29, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Anti-dilutive shares excluded from computation of diluted shares outstanding			5,300,000
2016 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of additional shares awarded		0
Unrecognized compensation expense related to the unvested portion		$ 4.3
Unrecognized compensation expense, expected to be recognized over weighted average period		10 months 24 days
Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee stock purchase plan maximum percentage of earnings to purchase shares by eligible participants		15%
Purchase price as a percentage of the lesser of the market value of such shares at either the lookback date or last day of related purchase period		85%
Class A Common Stock | 2016 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Threshold percentage of direct and indirect holdings of common stock		90%
Class A Common Stock | Executive
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years
Class A Common Stock | Anniversaries of Grant Date | Executive
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of restricted shares vested	50%

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Series C Unit Activity Under 2016 Incentive Plan (Details) - 2016 Incentive Plan	9 Months Ended
	Oct. 28, 2023 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, January 28, 2023	201,359,000
Granted	0
Forfeited	(1,557,000)
Outstanding, October 28, 2023	199,802,000
Vested, October 28, 2023	175,829,000