US pet product supplier Central Garden & Pet reports Q1 results
Decline in pet segment sales, increase in garden segment
US pet product supplier Central Garden & Pet Company reported 2014 first-quarter net sales of US$290.5 million, compared with US$292.5 million in the first quarter of 2013. The company's first-quarter operating loss improved to US$8.4 million, compared to an operating loss of US$13.1 million in the comparable period of 2013, according to the company.
"Our first quarter showed some improvement," said John Ranelli, president & CEO of Central Garden & Pet. "Our focus on the customer and operational and financial fundamentals is beginning to yield results. I am pleased we are starting to see improved performance from the changes we are making."
Net sales for the garden segment increased US$8.6 million, or 9% from the same period in 2013, to US$105.9 million. The garden segment's branded product sales were US$92.8 million and sales of other manufacturers' products were US$13.1 million. First-quarter net sales for the pet segment declined US$10.6 million, or 5% from the same period in 2013, to US$184.6 million. According to the company, lower sales of wild bird feed and aquatics products were the most important reasons for the declining sales.
The pet segment's branded product sales were US$140.5 million and sales of other manufacturers' products were US$44.1 million. The pet segment's operating income was US$14.4 million, compared to US$10.2 million in the same period in 2013, according to the company.