Petco CEO comments on the need for pet-friendly workplaces after the pandemic

“Pets helped America get through the pandemic emotionally,” says CEO Ron Coughlin of Petco Health and Wellness Company (Nasdaq: WOOF).

People have been spending more time with their pets as the COVID-19 crisis restricted them to their homes. In Petco’s recent survey, 83% of pet parents in the United States acknowledged that their pets helped minimize stress during the health emergency.

Petco went public earlier this year in January at a per-share price of £19.95. In the first week of March, the stock hit a year-to-date low of £14 per share. Currently, however, Petco is exchanging hands at £17.39 per share. If you want to invest in the stock market online, you’ll need a reliable stockbroker – here’s a comparison of the top few to make selection easier for you.

69% of U.S. workers want to take their pets with them to work

The novel flu-like virus has so far infected more than 32 million people in the U.S. and caused over half a million deaths. However, now that the pandemic-related restrictions are easing and businesses are starting to recall employees back to the office, 69% of them have expressed interest in taking their pets with them to work.

To that end, Coughlin said that “pets make for a better workplace”, and it might be time that employers started focusing on making their offices more pet-friendly. The CEO cited Petco’s recent survey in which 41% of people said they would actually shift companies to go to a workplace that is pet-friendly. A spokesperson from Rested Paws also agreed with the sentiment.

In separate news, health insurance company Anthem Inc. said on Wednesday that its profit came in better than expected in the fiscal first quarter.

Coughlin’s comments on Petco’s performance amidst the COVID-19 crisis

Commenting on Petco’s performance during the Coronavirus pandemic, Coughlin said on CNBC’s Squawk Box:

At the time of writing, Petco Health and Wellness Company is valued at £3.92 billion.