Pet Valu reports first-quarter profit down from a year ago, trims profit outlook

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MARKHAM — Pet Valu Holdings Ltd. trimmed its profit outlook for its full year as it reported first-quarter net income of $20.0 million, down from $21.8 million a year ago.

The retailer of pet food and pet-related supplies says it profit amounted to 29 cents per diluted share for the quarter ended April 4 compared with a profit of 31 cents per diluted share a year earlier.

Revenue totalled $287.9 million, up from $279.1 million in the same quarter last year, while same-store sales growth was flat.

On an adjusted basis, Pet Valu says it earned 31 cents per diluted share in its latest quarter compared with an adjusted profit of 36 cents per diluted in the first quarter of 2025.

In its outlook, Pet Valu says it now expects full-year revenue growth between two and four per cent, on a 52-week comparable basis, while adjusted net income per diluted share for the year is expected to be similar to 2025.

The updated forecast compared with earlier expectations for revenue growth between two and four per cent and adjusted net income per diluted share growth in the mid to high single-digits.

This report by The Canadian Press was first published May 12, 2026.