Pet Valu Inc. recently announced un-audited fourth-quarter financial results, including net income for the quarter ending Jan. 3, 2009, of US$4.3 million, compared to net income of US$4.7 million for the fourth quarter of fiscal 2007, according to Fox Business .
Excluding non-comparable items and losses or gains on foreign exchange, net income was US$5.6 million compared to net income of US$4.7 million for the fourth quarter of fiscal 2007.
Net income for the fiscal year ending Jan. 3, 2009, was US$14.7 million compared to US$12.4 million for fiscal 2007.
Net income excluding non-comparable items and losses on foreign exchange for the fiscal year ending Jan. 3, 2009, was US$17.4 million, whereas net income excluding non-comparable items and gains on foreign exchange for the year ending Dec. 29, 2007, was US$11.8 million.
The story reports Pet Valu earnings were impacted in the fourth quarter of 2008 and for fiscal year 2008 by losses related to the change in the Canadian/US exchange rate.
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.