Central Garden & Pet Co. released their numbers on February 4 and the stock is at about a 51/49% revenue split, according to an article on the market review website, www.seekingalpha.com .
F1Q (Dec) losses were US$0.09 vs. US$0.11 in the company's seasonally slowest quarter. Sales of US$292.5 million, -6.8%, were modestly below consensus expectations for a decline of -3.3%. Management stated this decline was from purchase delays by retailers during the quarter in both lawn and garden and pet segments and that the next quarter is looking good because of this.
Management is cutting costs by lowering their investment in working capital by US$48 million due to improved inventory management and it shaved off US$8 million in SG&A and is improving gross margins, according to the article.
Feature
By Lindsay Beaton
Pet food label modernization still a work in progress
As work continues on creating a new nutrition label that focuses on simplifying information for consumers, challenges remain.
READ MORE in Petfood Industry magazine
Feature
By Tang Yu
5 insights on China’s pet food market post-2020
Data and observations sum up how the Chinese pet food market fared in 2020, while local pet food businesses and experts offer outlooks for 2021.