PetSmart releases 2010 first quarter results

PetSmart Inc. recently reported earnings of US$0.46 per share in its first quarter of 2010, up 24% compared to $0.37 per share in the first quarter of 2009.

May 24, 2010

PetSmart Inc. recently reported earnings of US$0.46 per share in its first quarter of 2010, up 24% compared to $0.37 per share in the first quarter of 2009. The company's net income totaled US$55.6 million in the first quarter of 2010, compared to US$46.3 million in the first quarter of 2009.

Total sales for the first quarter of 2010, which were partially impacted by US$12 million in favorable foreign currency fluctuations, increased 5.1% to US$1.4 billion.

During the first quarter, the company generated US$86 million in operating cash flow, spent US$31 million in capital expenditures, distributed US$12 million in dividends, and repurchased US$107 million of PetSmart stock.

The preference for smaller breeds is having a marked impact on the overall demand for pet food volumes in Mexico.

Small dogs make big impact on shaping Mexico's pet food industry

Southworth Floor Height Tilter

Southworth Products Corp ZLS line of floor height lifts

Pet Food Market

Small dogs make big impact on shaping Mexico's pet food industry

A recent report highlights a shift in consumer preferences toward small dogs causing a slowdown in the country's pet food production.

The preference for smaller breeds is having a marked impact on the overall demand for pet food volumes in Mexico.

Brand Insights

Pet Food Quality: A More Holistic Approach to Food Safety

KEMIN NUTRISURANCE

Learn why addressing microbial risks throughout the value chain is critical to a robust food safety program. Brand Insights from Kemin.

Pet Food Quality: A More Holistic Approach to Food Safety

Insect-based Cat and Dog Food

Innovafeed opens insect innovation center in Decatur, Illinois

This is the first step in the company's industrial expansion to North America, which aims to scale up production and commercialization of insect protein in the U.S.

Maye Walraven, U.S. general manager at Innovafeed, displays one of the six insect cages at the recently opened North American Insect Innovation Center (NAIIC), on April 18.

Grains and Starches

Nestlé Purina, Cargill partner to reduce dry pet food carbon footprint

Nestle Purina PetCare

Investment in regenerative agriculture is estimated to reduce the carbon footprint of Purina’s U.S. grain supply from Cargill by up to 40% over the next three years.

Nestlé Purina and Cargill are partnering on regenerative agriculture adoption to reduce the carbon footprint of Purina dry pet food products.

Trouw Nutrition, Skretting name new CEOs

Nutreco has named Eduardo Lopes Alberto as CEO of Trouw Nutrition and Bastiaan van Tilburg as CEO of Skretting, effective June 1.

Pet Food Market

Plant-based ingredient supplier enters pet food market

Green Boy's pet food division will will offer ingredients for dry and wet pet food and for the utilization of all kinds of pet food products.

Bean, the Green Boy mascot, and his friend, Junior, celebrate the opening of Green Boy Groups Pet Food Division on April 1.

Pet Food Market

Private label pet food enjoys booming popularity in Eastern Europe

Private labels have acquired nearly a third of the overall value share in Europe, indicating a significant shift in consumer preferences toward more affordable alternatives to branded pet food.

Analysts anticipate the share of private label brands is poised to continue its upward trajectory in Europe as consumers look to reduce expenses during the ongoing cost-of-living crisis.

Pet Food Market

Pet food brands named to America's Greatest Workplaces for Diversity list

Newsweek recognized several pet food and pet industry brands for "genuinely respecting and valuing individuals from different walks of life."

Dog Wearing Crown

Polish insect-protein producer ramps up capacity for pet food

Plus, Ukraine's Kormotech expands into Romania and Denmark's BHJ acquires an Australian pet food maker.

HiProMine is investing in its production capacities to become a leading protein supplier to the European pet food industry.

Halal pet food company to launch in the UK

Aihtsham Rashid is establishing a new 100% halal-certified pet food company, beginning with cat food, in the UK market.

Hurayra Halal Pet Food will help tackle the lack of natural, high-protein, GMO- and preservative-free options in the UK market, said its founder, Aihtsham Rashid.

BARK appoints new independent directors

Paulette Dodson and Michele Meyer join the company's board of directors.

Pet Food Market

Colombian pet food, dairy leaders collaborate on new dog treat

A collaboration between Italcol, a leading Colombian pet food manufacturer, and Alpina, a dairy giant, has created Dog Yurt, a blend of dairy expertise with pet nutrition.

Colombian pet food manufacturer Italcol has teamed up with Alpina to launch Dog Yurt, a new line of topping-snacks designed with probiotics.

Nestlé to invest €472 million in Italian pet food factory

The 180,000 square-meter production plant will be based in Mantua, about 160 kilometers southeast of Milan.

Nestlé is investing €472 million in a pet food factory in Mantua, Italy.

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