Why Is Petco (WOOF) Stock Falling 6% Today? While Americans may love their furry friends, that sentiment failed to deliver for Petco (NASDAQ: WOOF ) and its second-quarter earnings report, sending WOOF stock plunging Wednesday morning. Shares slipped 6% earlier today before extending losses to about 8% in the early afternoon. Petco disappointed Wall Street, missing expectations for the top and bottom lines. Adding insult to injury, management cut its full-year outlook. For Q2, Petco posted net income of $14.35 million, or 5 cents per share. This figure contrasted sharply and unfavorably with the year-ago quarter’s result of $75.11 million, or 28 cents per share. In addition, Petco’s adjusted per-share earnings came out to 19 cents, below FactSet’s consensus target of 22 cents. On the revenue front, the pet retailer rang up $1.48 billion. Here, the sales tally represented a lift of 3% from the year-ago result of nearly $1.44 billion. Unfortunately, this figure also missed Wall Street’s expectations, which on average called for just under $1.5 billion.