Pet Food News

PetSmart stocks holding strong

PetSmart shares have jumped 31% thus far in 2010, according to TheStreet. The company has a solid track record of being recession-proof. Sales of pet products are on track to increase this year, with the potential for US$47.7 billion in 2010, especially with an increasing amount of premium and specialty petfood sales and more people owning pets.

PetSmart has a market value of US$3.5 billion, with revenue of US$1.4 billion in the most recent quarter, signaling a 6.2% increase.

PetMed Express declined 3% so far this year, likely because Americans are spending less on pet medications. But, as a low-cost business model, the company maintains good long-term appeal, and may rebound as Americans begin to spend more in this area.

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