Product details

In February 1999, the web store Pets.com, Inc was formed to catch the niche of limited product availability carried by large regional pet superstores, specialty stores, and grocery stores. Following the wave of Internet businesses opening across the globe, Pets.com has sold its company shares in the open market hoping for a favourable initial public offering. In March of 2000, the stock price reached a 52 week high of $9.25, but just nine months later had fallen to $.063 on January 2, 2001 with earnings per share falling to ($33.03). If the company was to continue to survive, a re-structuring plan would need to be set in place to provide Pets.com with enough capital to ensure enough time to increase revenues to support the fixed costs associated with running a large Internet distribution business.