Despite Central Garden & Pet Company reporting a 2% decline in net sales for pet products during its first quarter compared with the fiscal 2009 period, the company's chairman and CEO William Brown noted that the entire company has made progress in reducing working capital, improving gross margins and controlling costs.
"We reduced our investment in working capital by US$98 million compared with this time last year and lowered debt by US$84 million," Brown said.
2 top trends for 2021 according to the pet food industry
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
Shelter pet adoption numbers down in 2020, but high rate
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.