Petco (WOOF) shares rose Thursday after the pet retailer named Joel Anderson its new chief execut𓂃ive officer.

The announcement landed hours after discount retailer Five Below (FIVE) yesterday said 澳洲幸运5官方开奖结果体彩网:Anderson was departing. The news contributed to Five Below shares losing a quarter of their value Wednesday.

Petco shares were recently up more than 3% to a bit under $4. Five Below shares wereꦑ down another 5%.

Petco Hiring CEO With 'Wealth of Retail Experience'

Petco said Anderson would start July 29. Wedbush analysts said Thursday that Anderson's "wealth of retail experience" makes the hire a " key step in the company’s revitalization," raising their price target to $5 from $4.

Anderson spent nearly a decade as CEO of Five Below, with several years of experience in a number of executive positions with Walmart (WMT) and other retailers.

"I am excited to join Petco at a pivotal time as we reposition the business for a stronger future," Anderson said in a statement.

Petco's shares are up more than 20% this year, well off spring lows below $1.50.