Petco to Open Five New Stores, Remodel Another

Petco Animal Services Inc. this month will open five new locations and remodel and reopen one of its San Diego stores as its latest step in a plan to “significantly expand” the company’s national footprint by year’s end, the company announced Wednesday.

The company this year has already opened 26 new Petco stores and one new Unleashed by Petco, a scaled-down version of its traditional store with more “natural” products, according to a company statement.

The Petco store on Sports Arena Boulevard will be remodeled ahead of a grand reopening slated for July 22-24, the company said.

Two of the new stores Petco said it will open this month are in Massachusetts; the others are in Connecticut, Maryland and South Carolina.

Petco is also remodeling 12 of its Seattle stores and in Ohio, it is expanding one store and relocating another, according to the company.

The continued expansion comes roughly seven months after private equity firm CVC Capital Partners and the Canada Pension Plan Investment Board struck a $4.6 billion acquisition deal with Petco’s holding company.

Shortly before the acquisition, Petco opened new multimillion-dollar corporate headquarters in Rancho Bernardo.

The company is the second largest of two major players in the U.S. pet store industry, with about 23 percent of the market, according to an April 2016 report by Los Angeles-based market research firm IBISWorld.

Its largest competitor is the Phoenix-based retailer PetSmart Inc., which controls about 37 percent of the market.

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