Petco Health and Wellness (WOOF) 10-Q 27 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 31, 2021	Aug. 25, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
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	--01-29
Entity Filer Category	Non-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		226,491,943
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	Jul. 31, 2021	Jan. 30, 2021
Current assets:
Cash and cash equivalents	$ 203,404	$ 111,402
Receivables, less allowance for credit losses ($1,802 and $3,267, respectively)	39,889	41,827
Merchandise inventories, net	628,491	538,675
Prepaid expenses	41,990	40,032
Other current assets	30,381	45,613
Total current assets	944,155	777,549
Fixed assets	1,586,677	1,487,987
Less accumulated depreciation	(932,283)	(860,440)
Fixed assets, net	654,394	627,547
Operating lease right-of-use assets	1,314,533	1,328,108
Goodwill	2,182,465	2,179,310
Trade name	1,025,000	1,025,000
Other intangible assets	4,793	4,793
Less accumulated amortization	(4,251)	(4,079)
Other intangible assets, net	542	714
Other long-term assets	194,092	137,474
Total assets	6,315,181	6,075,702
Current liabilities:
Accounts payable and book overdrafts	406,685	339,485
Accrued salaries and employee benefits	123,721	129,484
Accrued expenses and other liabilities	210,517	145,846
Current portion of operating lease liabilities	248,631	258,289
Current portion of long-term debt and other lease liabilities	20,235	2,203
Total current liabilities	1,009,789	875,307
Senior secured credit facilities, net, excluding current portion	1,646,463	1,646,281
Operating lease liabilities, excluding current portion	1,070,063	1,083,575
Deferred taxes, net	293,611	280,920
Other long-term liabilities	135,873	134,354
Total liabilities	4,155,799	4,020,437
Commitments and contingencies (Notes 3, 4 and 8)
Stockholders' equity:
Preferred stock, $0.001 par value: Authorized - 25.0 million shares; Issued and outstanding - none		0
Additional paid-in-capital	2,115,220	2,092,110
Retained earnings (accumulated deficit)	60,420	(22,251)
Accumulated other comprehensive loss	(1,272)	(1,275)
Total stockholders’ equity	2,174,632	2,068,848
Noncontrolling interest	(15,250)	(13,583)
Total equity	2,159,382	2,055,265
Total liabilities and equity	6,315,181	6,075,702
Class A Common Stock
Stockholders' equity:
Common stock value	226	226
Class B-1 Common Stock
Stockholders' equity:
Common stock value	$ 38	38
Class B-2 Common Stock
Stockholders' equity:
Common stock value		$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 30, 2021
Allowance for credit loss, current	$ 1,802	$ 3,267
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	226,500,000	226,400,000
Common stock, shares, outstanding	226,500,000	226,400,000
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		6 Months Ended
		Jul. 31, 2021	Aug. 01, 2020	Jul. 31, 2021	Aug. 01, 2020
Income Statement [Abstract]
Net sales		$ 1,434,534	$ 1,208,971	$ 2,849,528	$ 2,322,492
Cost of sales		835,124	679,218	1,653,133	1,326,457
Gross profit		599,410	529,753	1,196,395	996,035
Selling, general and administrative expenses		525,942	464,706	1,075,178	914,623
Operating income		73,468	65,047	121,217	81,412
Interest income		(13)	(99)	(34)	(283)
Interest expense		19,206	54,493	39,735	115,301
Loss on extinguishment and modification of debt			0	20,838	0
Other non-operating income		(45,162)		(45,162)
Income (loss) before income taxes and income from equity method investees		99,437	10,653	105,840	(33,606)
Income tax expense (benefit)		27,011	4,958	29,690	(5,597)
Income from equity method investees		(2,429)	(745)	(4,854)	(1,077)
Net income (loss)		74,855	6,440	81,004	(26,932)
Net loss attributable to noncontrolling interest		(256)	(1,001)	(1,667)	(3,205)
Net income (loss) attributable to Class A and B-1 common stockholders		$ 75,111	$ 7,441	$ 82,671	$ (23,727)
Net income (loss) per Class A and B-1 common share:
Basic	[1]	$ 0.28	$ 0.04	$ 0.31	$ (0.11)
Diluted	[1]	$ 0.28	$ 0.04	$ 0.31	$ (0.11)
Weighted average shares used in computing net income (loss) per Class A and B-1 common share:
Basic	[1]	264,216	209,015	264,216	209,015
Diluted	[1]	265,217	209,015	265,123	209,015
[1]	Amounts for periods prior to the Company’s conversion to a Delaware corporation have been retrospectively adjusted to give effect to the organizational transactions described in Note 1. See Note 7 for further discussion.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Aug. 01, 2020	Jul. 31, 2021	Aug. 01, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 74,855	$ 6,440	$ 81,004	$ (26,932)
Net loss attributable to noncontrolling interest	(256)	(1,001)	(1,667)	(3,205)
Net income (loss) attributable to Class A and B-1 common stockholders	75,111	7,441	82,671	(23,727)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	789	281	3	(4,689)
Unrealized loss on derivatives	0	(9)	0	(61)
Losses on derivatives reclassified to income	0	2,021	0	3,749
Total other comprehensive income (loss), net of tax	789	2,293	3	(1,001)
Comprehensive income (loss)	75,644	8,733	81,007	(27,933)
Comprehensive loss attributable to noncontrolling interest	(256)	(1,001)	(1,667)	(3,205)
Comprehensive income (loss) attributable to Class A and B-1 common stockholders	$ 75,900	$ 9,734	$ 82,674	$ (24,728)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' / MEMBERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Members’ Interest	[1]	Common Stock	Common StockClass A Common Stock	Common StockClass B-1 Common Stock	Common StockClass B-2 Common Stock	Additional Paid-in Capital	(Accumulated Deficit) Retained Earnings	[1]	Accumulated Other Comprehensive Loss	Total Stockholders'/Members' Equity	Noncontrolling Interest
Beginning Balance at Feb. 01, 2020	$ 561,061	$ 1,358,130							$ (780,466)		$ (8,273)	$ 569,391	$ (8,330)
Equity-based compensation expense (Note 7)	2,305	2,305										2,305
Net income (loss)	(33,372)								(31,168)			(31,168)	(2,204)
Foreign currency translation adjustment, net of tax	(4,970)										(4,970)	(4,970)
Unrealized loss on derivatives, net of tax	(52)										(52)	(52)
Losses on derivatives reclassified to income	1,728										1,728	1,728
Ending Balance at May. 02, 2020	526,700	1,360,435							(811,634)		(11,567)	537,234	(10,534)
Beginning Balance at Feb. 01, 2020	561,061	1,358,130							(780,466)		(8,273)	569,391	(8,330)
Net income (loss)	(26,932)
Unrealized loss on derivatives, net of tax	(61)
Losses on derivatives reclassified to income	3,749
Ending Balance at Aug. 01, 2020	537,641	1,362,643							(804,193)		(9,274)	549,176	(11,535)
Beginning Balance at Feb. 01, 2020	561,061	1,358,130							(780,466)		(8,273)	569,391	(8,330)
Ending Balance at Jan. 30, 2021	2,055,265			$ 264				$ 2,092,110	(22,251)		(1,275)	2,068,848	(13,583)
Balance (in shares) at Jan. 30, 2021					226,424	37,791	37,791
Beginning Balance at May. 02, 2020	526,700	1,360,435							(811,634)		(11,567)	537,234	(10,534)
Equity-based compensation expense (Note 7)	2,312	2,312										2,312
Repurchase of equity	(104)	(104)										(104)
Net income (loss)	6,440								7,441			7,441	(1,001)
Foreign currency translation adjustment, net of tax	281										281	281
Unrealized loss on derivatives, net of tax	(9)										(9)	(9)
Losses on derivatives reclassified to income	2,021										2,021	2,021
Ending Balance at Aug. 01, 2020	537,641	$ 1,362,643							(804,193)		(9,274)	549,176	(11,535)
Beginning Balance at Jan. 30, 2021	2,055,265			264				2,092,110	(22,251)		(1,275)	2,068,848	(13,583)
Equity-based compensation expense (Note 7)	11,604							11,604				11,604
Net income (loss)	6,149								7,560			7,560	(1,411)
Foreign currency translation adjustment, net of tax	(786)										(786)	(786)
Issuance of restricted stock awards (in shares)					55
Ending Balance at May. 01, 2021	2,072,232			264				2,103,714	(14,691)		(2,061)	2,087,226	(14,994)
Balance (in shares) at May. 01, 2021					226,479	37,791	37,791
Beginning Balance at Jan. 30, 2021	2,055,265			264				2,092,110	(22,251)		(1,275)	2,068,848	(13,583)
Balance (in shares) at Jan. 30, 2021					226,424	37,791	37,791
Net income (loss)	81,004
Unrealized loss on derivatives, net of tax	0
Losses on derivatives reclassified to income	0
Ending Balance at Jul. 31, 2021	2,159,382			264				2,115,220	60,420		(1,272)	2,174,632	(15,250)
Balance (in shares) at Jul. 31, 2021					226,491	37,791	37,791
Beginning Balance at May. 01, 2021	2,072,232			264				2,103,714	(14,691)		(2,061)	2,087,226	(14,994)
Balance (in shares) at May. 01, 2021					226,479	37,791	37,791
Equity-based compensation expense (Note 7)	11,506							11,506				11,506
Net income (loss)	74,855								75,111			75,111	(256)
Foreign currency translation adjustment, net of tax	789										789	789
Unrealized loss on derivatives, net of tax	0
Losses on derivatives reclassified to income	0
Issuance of common stock (in shares)					12
Ending Balance at Jul. 31, 2021	$ 2,159,382			$ 264				$ 2,115,220	$ 60,420		$ (1,272)	$ 2,174,632	$ (15,250)
Balance (in shares) at Jul. 31, 2021					226,491	37,791	37,791
[1]	Balances prior to the Company's conversion to a Delaware corporation were reclassified to additional paid-in capital to give effect to the organizational transactions described in Note 1

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2021	Aug. 01, 2020
Cash flows from operating activities:
Net income (loss)	$ 81,004	$ (26,932)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	82,845	86,038
Amortization of debt discounts and issuance costs	3,369	12,125
Provision for deferred taxes	12,691	(21,753)
Equity-based compensation	23,110	4,617
Impairments, write-offs and losses on sale of fixed and other assets	2,690	6,261
Loss on extinguishment and modification of debt	20,838	0
Income from equity method investees	(4,854)	(1,077)
Amounts reclassified out of accumulated other comprehensive income (Note 5)		5,066
Change in contingent consideration obligation		(391)
Non-cash operating lease costs	210,490	216,729
Other non-operating income	(45,162)
Changes in assets and liabilities:
Receivables	1,937	(5,208)
Merchandise inventories	(89,784)	(11,056)
Prepaid expenses and other assets	3,294	(9,153)
Accounts payable and book overdrafts	74,466	(18,955)
Accrued salaries and employee benefits	(6,017)	3,116
Accrued expenses and other liabilities	51,145	35,747
Operating lease liabilities	(220,655)	(196,700)
Other long-term liabilities	997	13,915
Net cash provided by operating activities	202,404	92,389
Cash flows from investing activities:
Cash paid for fixed assets	(99,883)	(50,043)
Cash paid for acquisitions, net of cash acquired	(2,807)
Distributions from equity investees		73
Proceeds from sale of assets	105	1,296
Net cash used in investing activities	(102,585)	(48,674)
Cash flows from financing activities:
Borrowings under long-term debt agreements	1,700,000	440,000
Repayments of long-term debt	(1,682,361)	(456,625)
Debt refinancing costs	(24,665)
Payments for finance lease liabilities	(2,044)	(2,089)
Proceeds from employee stock purchase plan	1,721
Repurchase of equity		(105)
Payment of contingent consideration		(250)
Payment of offering costs	(3,844)
Net cash used in financing activities	(11,193)	(19,069)
Net increase in cash, cash equivalents and restricted cash	88,626	24,646
Cash, cash equivalents and restricted cash at beginning of year	119,540	154,718
Cash, cash equivalents and restricted cash at end of year	208,166	179,364
Supplemental cash flow disclosures:
Interest paid, net	29,463	95,284
Capitalized interest	181	174
Income taxes paid	5,195	1,344
Supplemental non-cash investing and financing activities disclosure:
Accounts payable and accrued expenses for capital expenditures	$ 28,105	$ 22,370

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 31, 2021
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 condensed 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 30, 2021 The results of operations for the thirteen and twenty-six weeks ended July 31, 2021 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending January 29, 2022. Corporate Conversion and Public Offerings The Company previously operated as a Delaware limited liability company under the name PET Acquisition LLC. In January 2021, the Company converted to a Delaware corporation pursuant to a statutory conversion and changed its name to Petco Health and Wellness Company, Inc. The existing balances of members’ interest and accumulated deficit prior to this conversion were reclassified to additional paid-in capital in the condensed consolidated balance sheets. This reclassification had no effect on the Company’s results of operations. On January 19, 2021, the Company completed its initial public offering of 55.2 million newly-issued shares of its Class A common stock. The offering price was $18.00 per share. The net proceeds from the initial public offering were used to pay a portion of the principal amount and accrued interest on the Company’s debt obligations. Refer to Note 3 and Note 4 for further discussion on the Company’s use of proceeds from the initial public offering. In June 2021, Scooby Aggregator, LP, the Company’s principal stockholder, completed the sale of 25.3 A common stock in connection with a secondary offering. The offering price to the public was $24.00 per . The Company received no proceeds from the secondary offering. Expenses incurred by the Company related to the secondary offering were not material. Use of Estimates The preparation of these condensed 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 condensed 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. Cash and Cash Equivalents The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheets to the total amounts reported in the condensed consolidated statements of cash flows. July 31, 2021 January 30, 2021 Cash and cash equivalents $ 203,404 $ 111,402 Restricted cash included in other current assets 4,762 8,138 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 208,166 $ 119,540 Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-13 – Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the accounting for recognizing impairments of financial assets. Under the new accounting guidance, credit losses for financial assets held at amortized cost will be estimated based on expected losses rather than the current incurred loss impairment model. The new accounting guidance also modifies the impairment model for available-for-sale debt securities. The Company adopted this accounting policy on February 2, 2020. The adoption did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures. In August 2018, FASB issued Accounting Standards Update No. 2018-15 – Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40), which amends ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The Company adopted this accounting policy on February 2, 2020. The adoption did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jul. 31, 2021
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 Twenty-six weeks ended July 31, 2021 August 1, 2020 July 31, 2021 August 1, 2020 Consumables $ 611,946 $ 492,274 $ 1,207,078 $ 1,018,026 Supplies and companion animals 663,572 612,630 1,321,744 1,106,364 Services and other 159,016 104,067 320,706 198,102 Net sales $ 1,434,534 $ 1,208,971 $ 2,849,528 $ 2,322,492

Senior Secured Credit Facilitie

Senior Secured Credit Facilities	6 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Senior Secured Credit Facilities	3. Senior Secured Credit Facilities As of January 30, 2021, the Company had a senior secured term loan facility (the “Amended Term Loan Facility”), which was fully repaid on March 4, 2021, and a senior secured asset-based revolving credit facility (the “Amended Revolving Credit Facility”), which was terminated on March 4, 2021. 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”). The Amended Term Loan Facility, the Amended Revolving Credit Facility, the First Lien Term Loan, and the ABL Revolving Credit Facility are collectively referred to as the “Senior Secured Credit Facilities.” As of July 31, 2021, the Company was in compliance with its covenants under the First Lien Term Loan and the ABL Revolving Credit Facility. Term Loan Facilities On January 19, 2021, the Company repaid $727.0 million of the Amended Term Loan Facility using a portion of the proceeds from its initial public offering , in addition to existing cash on hand. The repayment was applied to the remaining principal payments in order of scheduled payment date and, as a result, no quarterly principal payments remained under the Amended Term Loan Facility, other than the remaining principal balance due at maturity. As such, the entire remaining balance was included in senior secured credit facilities, net, excluding current portion in the condensed consolidated balance sheets as of January 30, 2021. On March 4, 2021, the Company entered into the $1,700.0 million First Lien Term Loan and repaid all outstanding principal and interest on the Amended Term Loan Facility. Interest under the First Lien Term Loan is at the Company’s option, either a base rate or Adjusted LIBOR, subject to a 0.75% floor, payable upon maturity of the LIBOR 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 LIBOR plus 1.0%. The applicable rate is 2.25% per annum for a base rate loan or 3.25% per annum for an Adjusted LIBOR loan. Principal and interest payments commenced on June 30, 2021. Principal payments are $4.25 million quarterly. In connection with the March 4, 2021 transaction, the Company recognized a loss on debt extinguishment and modification of $19.6 million on the term loan facilities, which consisted of a $6.5 million write-off of unamortized debt discount and issuance costs on the Amended Term Loan Facility and $13.1 million of third-party expenses. Fees relating to the Company’s entry into the First Lien Term Loan consisted of arranger fees and other third-party expenses. Of those fees, $3.2 million was capitalized as debt issuance costs, along with $4.3 million of original issue discount. The remaining portion of original issue discount and debt issuance costs of the Amended Term Loan Facility previously capitalized is being amortized over the contractual term of the First Lien Term Loan to interest expense using the effective interest rate in effect on the date of issuance, as these amounts represent the portion that was not substantially modified. As of July 31, 2021, the outstanding principal balance of the First Lien Term Loan was $1,695.8 million ($1,668.8 million, net of the unamortized discount and debt issuance costs). As of January 30, 2021, the outstanding principal balance of the Amended Term Loan Facility was $1,678.1 million ($1,649.4 million, net of the unamortized discount and debt issuance costs). The weighted average interest rate on the borrowings outstanding was 4.1% and 4.3% as of July 31, 2021 and January 30, 2021, 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 July 31, 2021, the estimated fair value of the First Lien Term Loan was approximately $1,687.3 million, based upon Level 2 fair value hierarchy inputs. As of January 30, 2021, the estimated fair value of the Amended Term Loan Facility was approximately $1,673.9 million, based upon Level 2 fair value hierarchy inputs. Revolving Credit Facilities On March 4, 2021, the Company entered into an agreement establishing the ABL Revolving Credit Facility and terminated the Amended Revolving Credit Facility. The ABL Revolving Credit Facility has availability up to $500.0 million, subject to a borrowing base. Fees relating to the Company’s entry into the ABL Revolving Credit Facility consisted of arranger fees and other third-party expenses. Of those fees, $4.1 million was capitalized as debt issuance costs. Unamortized debt issuance costs of $1.2 million were written off and recognized as a loss on debt extinguishment and modification in connection with this transaction. The remaining portion of debt issuance costs of the Amended Revolving Credit Facility previously capitalized is being amortized over the contractual term of the ABL Revolving Credit Facility as these amounts represent the portion that was not substantially modified. As of July 31, 2021, no amounts were outstanding under the ABL Revolving Credit Facility. As of January 30, 2021, no amounts were outstanding under the Amended Revolving Credit Facility. At July 31, 2021, $441.1 million was available under the ABL Revolving Credit Facility, which is net of $58.9 million of outstanding letters of credit issued in the normal course of business and no borrowing base reduction for a shortfall in qualifying assets. Unamortized debt issuance costs of $ 5.3 mil lion 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 as of July 31, 2021 . Unamortized debt issuance costs of $ 3.1 million relating to the Amended Revolving Credit Facility were outstanding and were being amortized using the straight-line method over the remaining term of the agreement as of January 30, 2021 . 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. Interest on the ABL Revolving Credit Facility is based on either the base rate or Adjusted LIBOR 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 LIBOR 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 Margin for Adjusted LIBOR Loans Applicable Margin for Base Rate Loans 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 the Line Cap 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.

Senior Notes

Senior Notes	6 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Senior Notes	4. Senior Notes Floating Rate Senior Notes On January 26, 2016, the Company issued $750.0 million of unsecured senior notes maturing on January 26, 2024 in a private offering (the “Floating Rate Senior Notes”). Debt issuance costs of $26.2 million related to the Floating Rate Senior Notes were being amortized over the contractual term to interest expense using the effective interest rate in effect at issuance. The Floating Rate Senior Notes bore interest at a floating rate equal to three-month LIBOR, subject to a 1.00% floor, plus 8.0% per annum (the “Applicable Margin”) payable quarterly in arrears. On January 19, 2021, in connection with the Company’s initial public offering, the holders of the outstanding Floating Rate Senior Notes exchanged $450.0 million of the aggregate principal amount of the Floating Rate Senior Notes for a new series of notes with a principal amount of $450.0 million issued by Scooby Aggregator, LP, the Company’s principal stockholder. Scooby Aggregator, LP, as the new holder of $450.0 million of Floating Rate Senior Notes, contributed the principal balance to the Company. This contribution, offset by approximately $7.4 million of unamortized deferred financing costs associated with the principal balance contributed, was recorded as an adjustment to additional paid-in capital. On January 19, 2021, the Company repaid the remaining $300.0 million principal balance of the Floating Rate Senior Notes using a portion of the proceeds from its initial public offering , in addition to existing cash on hand. 3.00% Senior Notes On January 26, 2016, the Company issued senior unsecured notes maturing on January 25, 2019 in a private offering to its members. Interest on the notes was originally 0.75% per annum, payable semi-annually either in cash or by means of capitalizing such interest and adding it to the then outstanding principal amount of the notes. On April 6, 2019, the Company amended the notes to extend their maturity to July 25, 2019. Interest under these notes (the “3.00% Senior Notes”) was 3.00% per annum, payable upon maturity. On July 25, 2019, February 3, 2020, and September 28, 2020, the Company further amended the notes to extend their maturity to January 25, 2020, January 25, 2021, and January 25, 2023, respectively. On January 19, 2021, in connection with its initial public offering, the Company repaid $4.0 million of the principal balance of the 3.00% Senior Notes. The remaining $127.7 million of principal and $3.6 million of accrued interest was then contributed to the Company.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jul. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments	5. Derivative Instruments In March 2016, the Company entered into a series of five interest rate cap agreements with four counterparties with a total notional value of $1,950.0 million to limit the maximum interest rate on a portion of the Company’s variable-rate debt and limit its exposure to interest rate variability when the three-month LIBOR exceeds 2.25%. The interest rate caps were accounted for as cash flow hedges because the interest rate caps were expected to be highly effective in hedging variable rate interest payments. Changes in the fair value of the interest rate caps were reported as a component of AOCI. The interest rate caps expired and were settled in accordance with their contractual terms on January 29, 2021.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 31, 2021
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): July 31, 2021 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 146,512 $ — $ — Investments of officers' life insurance $ — $ 15,783 $ — Non-qualified deferred compensation plan $ — $ (17,879 ) $ — January 30, 2021 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 63,798 $ — $ — Investments of officers' life insurance $ — $ 14,140 $ — Non-qualified deferred compensation plan $ — $ (15,526 ) $ — 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 $143.0 million and $56.0 million as of July 31, 2021 and January 30, 2021, respectively. Also included in the Company’s money market mutual funds balances were $3.5 million and $7.8 million as of July 31, 2021 and January 30, 2021, respectively, which relate to the Company’s restricted cash, and are included in other current assets in the condensed 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. 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 previously held an equity investment, in the form of multiple series of preferred stock, in A Place for Rover, Inc. (“Rover”), an online marketplace for pet care, which was historically accounted for as an equity security without a readily determinable fair value. In July 2021, Rover completed a business combination with Nebula Caravel Acquisition Corp., a publicly-traded special purpose acquisition company. The combined entity was renamed to Rover Group, Inc., and the Company’s equity investment was converted into a common stock investment in the combined entity. The business combination was considered to be an observable transaction, and the Company recognized a $45.2 million gain from the remeasurement of the fair value of its investment, which is included in other non-operating income in the consolidated statements of operations. The fair value of the investment was $49.6 million as of July 31, 2021 and is included within other long-term assets on the consolidated balance sheets. 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 twenty-six week periods ended July 31, 2021 and August 1, 2020. During the thirteen and twenty-six week periods ended July 31, 2021, the Company recorded fixed asset and right-of-use asset impairment charges of $1.4 million and $2.5 million, respectively. During the thirteen and twenty-six week periods ended August 1, 2020, the Company recorded fixed asset and right-of-use asset impairment charges of $2.7 million and $5.8 million, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 31, 2021
Stockholders Equity Note [Abstract]
Stockholders' Equity	7. Stockholders’ Equity Equity-Based Compensation Equity-based compensation awards under the Company’s current incentive plan Scooby LP, the direct owner of Scooby Aggregator, LP, also maintains an incentive plan (the “2016 Incentive Plan”) under which it has awarded partnership unit awards to 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 Twenty-six weeks ended July 31, 2021 August 1, 2020 July 31, 2021 August 1, 2020 RSUs and RSAs $ 6,353 $ — $ 12,825 $ — Options 2,045 — 4,137 — ESPP 317 — 390 — Partnership units of Scooby LP under the 2016 Incentive Plan 2,791 2,312 5,758 4,617 Total equity-based compensation expense $ 11,506 $ 2,312 $ 23,110 $ 4,617 Activity under the 2021 Equity Incentive Plan was as follows (shares and dollars in thousands): RSUs and RSAs Options Nonvested RSUs and RSAs/options outstanding, January 30, 2021 3,414 3,482 Granted 226 — RSUs and RSAs vested/options exercised (12 ) — Forfeited/expired (164 ) (49 ) Nonvested RSUs and RSAs/options outstanding, July 31, 2021 3,464 3,433 Unrecognized compensation expense as of July 31, 2021 $ 48,669 $ 19,510 Weighted average remaining expense period as of July 31, 2021 2.3 Years 2.5 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 becomes vested on each of the first two anniversaries of the grant date. Unvested RSAs are not considered participating securities for earnings per share purposes, as any related dividends are forfeitable. Enrollment in the ESPP began in April 2021. The ESPP will allow 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 30, 2021 214,006 Granted — Forfeited (3,704 ) Outstanding, July 31, 2021 210,302 Vested, July 31, 2021 110,548 No additional Series C Units have been or will be awarded since the Company’s initial public offering. As of July 31, 2021, unrecognized compensation expense related to the unvested portion of Scooby LP’s Series C Units was $ 21.8 2.7 Earnings (Loss) 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. There were approximately 3.4 million potential shares that were anti-dilutive and excluded from the computation of diluted shares outstanding during the twenty-six weeks ended July 31, 2021. There were no potentially dilutive securities outstanding during the twenty-six weeks ended August 1, 2020. For periods prior to the Company’s conversion to a Delaware corporation in January 2021, the Company has retrospectively presented net loss per share as if the conversion had occurred at the beginning of the earliest period presented. The weighted average shares used in computing net loss per Class A and B-1 common share in these periods are based on the number of Common Series A and Common Series B Units of PET Acquisition LLC held by members. For periods prior to the conversion, these calculations do not include the 55.2 million shares of Class A common stock issued in the Company’s initial public offering.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies COVID-19 The COVID-19 pandemic has been a highly disruptive economic and societal event that has affected the Company’s business and has had a significant impact on consumer shopping behavior. To serve pet parents while also providing for the safety of employees, the Company has adapted certain aspects of the business. Throughout the pandemic, the Company has monitored the rapidly evolving situation and will continue to adapt its operations to (i) address federal, state and local standards, (ii) meet the needs of pets and pet parents, and (iii) implement standards that the Company believes to be in the best interests of the safety and well-being of its employees and customers. The duration and severity of the pandemic remains uncertain. Litigation 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 condensed 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 condensed 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 a particular litigation matter is appropriate, the Company may be subject to liability that could have a material adverse effect on its condensed consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 31, 2021
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 condensed 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 30, 2021 The results of operations for the thirteen and twenty-six weeks ended July 31, 2021 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending January 29, 2022.
Corporate Conversion and Public Offerings	Corporate Conversion and Public Offerings The Company previously operated as a Delaware limited liability company under the name PET Acquisition LLC. In January 2021, the Company converted to a Delaware corporation pursuant to a statutory conversion and changed its name to Petco Health and Wellness Company, Inc. The existing balances of members’ interest and accumulated deficit prior to this conversion were reclassified to additional paid-in capital in the condensed consolidated balance sheets. This reclassification had no effect on the Company’s results of operations. On January 19, 2021, the Company completed its initial public offering of 55.2 million newly-issued shares of its Class A common stock. The offering price was $18.00 per share. The net proceeds from the initial public offering were used to pay a portion of the principal amount and accrued interest on the Company’s debt obligations. Refer to Note 3 and Note 4 for further discussion on the Company’s use of proceeds from the initial public offering. In June 2021, Scooby Aggregator, LP, the Company’s principal stockholder, completed the sale of 25.3 A common stock in connection with a secondary offering. The offering price to the public was $24.00 per . The Company received no proceeds from the secondary offering. Expenses incurred by the Company related to the secondary offering were not material.
Use of Estimates	Use of Estimates The preparation of these condensed 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 condensed 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.
Cash and Cash Equivalents	Cash and Cash Equivalents The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheets to the total amounts reported in the condensed consolidated statements of cash flows. July 31, 2021 January 30, 2021 Cash and cash equivalents $ 203,404 $ 111,402 Restricted cash included in other current assets 4,762 8,138 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 208,166 $ 119,540
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-13 – Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the accounting for recognizing impairments of financial assets. Under the new accounting guidance, credit losses for financial assets held at amortized cost will be estimated based on expected losses rather than the current incurred loss impairment model. The new accounting guidance also modifies the impairment model for available-for-sale debt securities. The Company adopted this accounting policy on February 2, 2020. The adoption did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures. In August 2018, FASB issued Accounting Standards Update No. 2018-15 – Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40), which amends ASC 350-40 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The Company adopted this accounting policy on February 2, 2020. The adoption did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures.
Goodwill and Intangible Assets Impairment	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.
Earnings (Loss) Per Share	Earnings (Loss) 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.
Litigation	Litigation 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 condensed 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 condensed 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 a particular litigation matter is appropriate, the Company may be subject to liability that could have a material adverse effect on its condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jul. 31, 2021
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 condensed consolidated balance sheets to the total amounts reported in the condensed consolidated statements of cash flows. July 31, 2021 January 30, 2021 Cash and cash equivalents $ 203,404 $ 111,402 Restricted cash included in other current assets 4,762 8,138 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 208,166 $ 119,540

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jul. 31, 2021
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 Twenty-six weeks ended July 31, 2021 August 1, 2020 July 31, 2021 August 1, 2020 Consumables $ 611,946 $ 492,274 $ 1,207,078 $ 1,018,026 Supplies and companion animals 663,572 612,630 1,321,744 1,106,364 Services and other 159,016 104,067 320,706 198,102 Net sales $ 1,434,534 $ 1,208,971 $ 2,849,528 $ 2,322,492

Senior Secured Credit Facilit_2

Senior Secured Credit Facilities (Tables)	6 Months Ended
	Jul. 31, 2021
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 Margin for Adjusted LIBOR Loans Applicable Margin for Base Rate Loans 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 the Line Cap 1.50 % 0.50 % Greater than or equal to 66.7% of the Line Cap 1.25 % 0.25 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 31, 2021
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): July 31, 2021 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 146,512 $ — $ — Investments of officers' life insurance $ — $ 15,783 $ — Non-qualified deferred compensation plan $ — $ (17,879 ) $ — January 30, 2021 Level 1 Level 2 Level 3 Assets (liabilities): Money market mutual funds $ 63,798 $ — $ — Investments of officers' life insurance $ — $ 14,140 $ — Non-qualified deferred compensation plan $ — $ (15,526 ) $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 31, 2021
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 Twenty-six weeks ended July 31, 2021 August 1, 2020 July 31, 2021 August 1, 2020 RSUs and RSAs $ 6,353 $ — $ 12,825 $ — Options 2,045 — 4,137 — ESPP 317 — 390 — Partnership units of Scooby LP under the 2016 Incentive Plan 2,791 2,312 5,758 4,617 Total equity-based compensation expense $ 11,506 $ 2,312 $ 23,110 $ 4,617
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 RSUs and RSAs/options outstanding, January 30, 2021 3,414 3,482 Granted 226 — RSUs and RSAs vested/options exercised (12 ) — Forfeited/expired (164 ) (49 ) Nonvested RSUs and RSAs/options outstanding, July 31, 2021 3,464 3,433 Unrecognized compensation expense as of July 31, 2021 $ 48,669 $ 19,510 Weighted average remaining expense period as of July 31, 2021 2.3 Years 2.5 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 30, 2021 214,006 Granted — Forfeited (3,704 ) Outstanding, July 31, 2021 210,302 Vested, July 31, 2021 110,548

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, shares in Millions	Jan. 19, 2021$ / sharesshares	Jun. 30, 2021USD ($)$ / sharesshares	Jul. 31, 2021Segment
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments | Segment			1
Number of operating segments | Segment			1
Accounting Standards Update No. 2016-13
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]			true
Change in Accounting Principle, Accounting Standards Update, Adoption Date			Feb. 2, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]			true
Accounting Standards Update No. 2018-15
Summary Of Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]			true
Change in Accounting Principle, Accounting Standards Update, Adoption Date			Feb. 2, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]			true
Class A Common Stock
Summary Of Significant Accounting Policies [Line Items]
Issuance of common stock (in shares) | shares	55.2
Offering price per share | $ / shares	$ 18
Class A Common Stock | Scooby Aggregator, LP
Summary Of Significant Accounting Policies [Line Items]
Issuance of common stock (in shares) | shares		25.3
Offering price per share | $ / shares		$ 24
Proceeds from Issuance of common stock | $		$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jan. 30, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 203,404	$ 111,402
Restricted cash included in other current assets	$ 4,762	$ 8,138
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	$ 208,166	$ 119,540

Revenue Recognition - Summary o

Revenue Recognition - Summary of Net Sales by Product Type and Services (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Aug. 01, 2020	Jul. 31, 2021	Aug. 01, 2020
Disaggregation Of Revenue [Line Items]
Net sales	$ 1,434,534	$ 1,208,971	$ 2,849,528	$ 2,322,492
Consumables
Disaggregation Of Revenue [Line Items]
Net sales	611,946	492,274	1,207,078	1,018,026
Supplies and companion animals
Disaggregation Of Revenue [Line Items]
Net sales	663,572	612,630	1,321,744	1,106,364
Services and other
Disaggregation Of Revenue [Line Items]
Net sales	$ 159,016	$ 104,067	$ 320,706	$ 198,102

Senior Secured Credit Facilit_3

Senior Secured Credit Facilities - Additional Information (Details) - USD ($)	Mar. 04, 2021	Jan. 30, 2021	Jan. 19, 2021	Aug. 01, 2020	Jul. 31, 2021	Aug. 01, 2020
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 and modification				$ 0	$ (20,838,000)	$ 0
Letter of credit sub facility					$ 150,000,000
Maximum borrowing capacity of eligible accounts receivable in percentage					90.00%
Borrowing capacity of net orderly liquidation value of eligible inventory in percentage					90.00%
Qualified cash					$ 50,000,000
Amended Term Loan Facility
Line Of Credit Facility [Line Items]
Credit facility, maturity date		Mar. 4, 2021
Credit facility principal repaid			$ 727,000,000
Loss on debt extinguishment and modification	$ (19,600,000)
Write-off of unamortized debt discount and issuance costs	6,500,000
Debt issuance cost related to third party expenses	$ 13,100,000
Outstanding principal balance, gross		$ 1,678,100,000
Outstanding principal balance, net of unamortized discount and debt issuance costs		$ 1,649,400,000
Weighted average interest rate		4.30%
Amended Term Loan Facility | Level 2
Line Of Credit Facility [Line Items]
Estimated fair value of credit facility		$ 1,673,900,000
First Lien Term Loan
Line Of Credit Facility [Line Items]
Credit facility, initiation date	Mar. 4, 2021
Borrowings under credit facility	$ 1,700,000,000
Credit facility, maturity date	Mar. 4, 2028
Debt instrument floor rate	0.75%
Quarterly principal payments	$ 4,250,000
Principal and interest payments commencement date	Jun. 30, 2021
Arranger fees and other third party expenses capitalized as debt issuance costs	$ 3,200,000
Debt original issue discount	$ 4,300,000
Outstanding principal balance, gross					1,695,800,000
Outstanding principal balance, net of unamortized discount and debt issuance costs					$ 1,668,800,000
Weighted average interest rate					4.10%
First Lien Term Loan | Level 2
Line Of Credit Facility [Line Items]
Estimated fair value of credit facility					$ 1,687,300,000
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 LIBOR
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.00%
Applicable annual rate	3.25%
Amended Revolving Credit Facility
Line Of Credit Facility [Line Items]
Credit facility, maturity date		Mar. 4, 2021
Outstanding principal balance, net of unamortized discount and debt issuance costs		$ 0
Unamortized debt issuance costs		$ 3,100,000
ABL Revolving Credit Facility
Line Of Credit Facility [Line Items]
Credit facility, initiation date	Mar. 4, 2021
Borrowings under credit facility	$ 500,000,000
Credit facility, maturity date	Mar. 4, 2026
Debt instrument floor rate					0.00%
Arranger fees and other third party expenses capitalized as debt issuance costs	$ 4,100,000
Outstanding principal balance, net of unamortized discount and debt issuance costs					$ 0
Unamortized debt issuance costs	$ 1,200,000				5,300,000
Borrowings available under credit facility					441,100,000
Outstanding letters of credit					58,900,000
Borrowings base reduction					0
Maximum borrowing capacity					$ 500,000,000
Line of credit facility, unused commitment fee percentage					0.375%
ABL 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%
ABL Revolving Credit Facility | Base Rate
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate					0.25%
ABL Revolving Credit Facility | London Interbank Offered Rate (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) - ABL Revolving Credit Facility	6 Months Ended
	Jul. 31, 2021
Applicable Margin for Adjusted LIBOR Loans
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	1.25%
Applicable Margin for Adjusted LIBOR 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 LIBOR 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 LIBOR 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) - ABL Revolving Credit Facility	6 Months Ended
	Jul. 31, 2021
Less than 33.3% of the Line Cap | Applicable Margin for Adjusted LIBOR 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 LIBOR 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 LIBOR 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 LIBOR 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%

Senior Notes - Additional Infor

Senior Notes - Additional Information (Details) - USD ($) $ in Millions	Jan. 19, 2021	Sep. 28, 2020	Feb. 03, 2020	Jul. 25, 2019	Apr. 06, 2019	Jan. 26, 2016	Jul. 31, 2021
Floating Rate Senior Notes
Debt Instrument [Line Items]
Unsecured senior notes						$ 750
Debt instrument, maturity date						Jan. 26, 2024
Debt issuance costs						$ 26.2
Interest rate,description							The Floating Rate Senior Notes bore interest at a floating rate equal to three-month LIBOR, subject to a 1.00% floor, plus 8.0% per annum (the “Applicable Margin”) payable quarterly in arrears.
Debt instrument floor rate						1.00%
Debt, periodic payment of interest							quarterly
Debt instrument, principal amount exchanged for another Debt/Initial public offering	$ 450
Repayment of debt	300
Floating Rate Senior Notes | Scooby Aggregator, LP
Debt Instrument [Line Items]
Unsecured senior notes	450
Unamortized deferred financing costs	7.4
Floating Rate Senior Notes | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate						8.00%
New Series Notes | Scooby Aggregator, LP
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount	450
3.00% Senior Notes
Debt Instrument [Line Items]
Debt instrument, maturity date		Jan. 25, 2023	Jan. 25, 2021	Jan. 25, 2020	Jul. 25, 2019	Jan. 25, 2019
Debt, periodic payment of interest							semi-annually
Debt instrument, principal amount exchanged for another Debt/Initial public offering	127.7
Repayment of debt	4
Interest rate					3.00%	0.75%
Accrued interest contributed in connection with Initial public offering	$ 3.6

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details)	1 Months Ended
	Mar. 31, 2016USD ($)Agreement
Derivative [Line Items]
Number of interest rate cap agreements | Agreement	5
Derivative, notional value | $	$ 1,950,000,000
Derivative, maturity date	Jan. 29, 2021
London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Derivative, cap interest rate	2.25%

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	Jul. 31, 2021	Jan. 30, 2021
Level 1 | Money Market Mutual Funds
Assets (liabilities):
Asset fair value	$ 146,512	$ 63,798
Level 1 | Investments of Officers' Life Insurance
Assets (liabilities):
Asset fair value	0	0
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	15,783	14,140
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
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	(17,879)	(15,526)
Non-qualified Deferred Compensation Plan | Level 3
Assets (liabilities):
Liabilities fair value	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Aug. 01, 2020	Jul. 31, 2021	Aug. 01, 2020	Jan. 30, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of fixed asset and right-of-use asset	$ 1.4	$ 2.7	$ 2.5	$ 5.8
Other Non-operating Income
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Gain from remeasurement of fair value			45.2
Other Long-term Assets | Rover
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of investment	49.6		49.6
Cash and Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Money market mutual funds	143		143		$ 56
Restricted Cash | Other Current Assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Money market mutual funds	$ 3.5		$ 3.5		$ 7.8

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Equity-based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2021	Aug. 01, 2020	Jul. 31, 2021	Aug. 01, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	$ 11,506	$ 2,312	$ 23,110	$ 4,617
RSUs and RSAs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	6,353	0	12,825	0
Options
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	2,045	0	4,137	0
ESPP
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	317	0	390	0
Partnership Units of SCOOBY LP Under the 2016 Incentive Plan
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	$ 2,791	$ 2,312	$ 5,758	$ 4,617

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Nonvested Share Activity (Details) - 2021 Equity Incentive Plan shares in Thousands, $ in Thousands	6 Months Ended
	Jul. 31, 2021USD ($)shares
RSUs and RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested RSUs and RSAs outstanding, January 30, 2021	3,414
Granted	226
RSUs and RSAs vested	(12)
Forfeited/expired	(164)
Nonvested RSUs and RSAs outstanding, July 31, 2021	3,464
Unrecognized compensation expense as of July 31, 2021 | $	$ 48,669
Weighted average remaining expense period as of July 31, 2021	2 years 3 months 18 days
Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, January 30, 2021	3,482
Granted	0
Options exercised	0
Forfeited/expired	(49)
Options outstanding, July 31, 2021	3,433
Unrecognized compensation expense as of July 31, 2021 | $	$ 19,510
Weighted average remaining expense period as of July 31, 2021	2 years 6 months

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ in Millions	Jan. 19, 2021	Mar. 31, 2021	Jul. 31, 2021	Aug. 01, 2020	Jan. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Anti-dilutive shares excluded from computation of diluted shares outstanding			3,400,000	0
Partnership Units of SCOOBY LP Under the 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			$ 21.8
Weighted average period for recognition			2 years 8 months 12 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			15.00%
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			85.00%
Common stock issued	55,200,000
Class A Common Stock | IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock issued					55,200,000
Class A Common Stock | Partnership Units of SCOOBY LP Under the 2016 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Threshold percentage of direct and indirect holdings of common stock			90.00%
Class A Common Stock | Executive
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		2 years
Class A Common Stock | First Two Anniversaries of Grant Date | Executive
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of restricted shares vested		50.00%

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Series C Unit Activity Under 2016 Incentive Plan (Details) - Partnership Units of SCOOBY LP Under the 2016 Incentive Plan	6 Months Ended
	Jul. 31, 2021shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, January 30, 2021	214,006,000
Granted	0
Forfeited	(3,704,000)
Outstanding, July 31, 2021	210,302,000
Vested, July 31, 2021	110,548,000