Petco heads to rural communities with concept store for pets and farm animals – MarketWatch

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Petco Health & Wellness Co. Inc. WOOF, +3.63% said Thursday that it’s testing a concept store designed for pet and farm animal care in small towns and rural communities. The Neighborhood Farm & Pet Supply will serve customers with horses, cows, pigs and other animals, as well as traditional pets with mobile vaccination and grooming services, a feed assortment and other services like curbside pickup. Petco quotes data in its announcement showing growth in rural communities, a total addressable market of $7 billion. Tractor Supply Co. TSCO, +2.06%, which serves the people and animals in these areas, has talked about the growth in these communities as well. That company was upgraded at Bank of America this week, based in part on the population growth in these geographies. Petco stock is down nearly 18% for the year to date while the S&P 500 index SPX, +1.46% has slumped 20.5% for the period.

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