Over the next 10 years, pet care industry sales could reach $275 billion, according to Morgan Stanley, as noted by Pet Food Processing. That’s great news for Chewy Inc. (NYSE:CHWY), Amazon.com Inc. (NADAQ:AMZN), Petco Health and Wellness Co. (NASDAQ:WOOF), Petmed Express Inc. (NASDAQ:PETS), and Better Choice Company (OTC:BTTR). In fact, the firm notes “Annual pet spending per household could reach $1,292 by 2025 and $1,909 by 2040 based on pet spending and pet ownership trends, according to the firm. This would result in a total industry spending increase of 134% over the next 10 years. Specifically, Morgan Stanley expects pet product spending to increase 115% from $70 billion in 2019 to $151 billion in 2030.”
That’s a Major Catalyst for Better Choice Company (OTC:BTTR)
Better Choice Company (OTC:BTTR), an animal health and wellness company, today announced the formation of a Special Advisory Committee of trusted advisors, created with a view towards enhancing shareholder value. The committee will be co-chaired by two Better Choice Board Members Michael Young (Chairman) and John Word (Director), and will include Clinton Gee (Director), Damian Dalla Longa (Director) and Rob Sauermann (Executive Vice President – Strategy).
Better Choice’s Board of Directors has voted to form a strategic advisory committee with a view towards advancing the Company’s long-term strategic goals, evaluating potential transactions, and making recommendations to the Board regarding those matters, as appropriate. Such matters may include, but are not limited to, the Company’s up-list to a major national exchange, strategic partnerships mergers and acquisitions, and potential debt and equity financing opportunities.
Michael Young, Chairman of Better Choice, stated, “Due to our strong positioning in the rapidly growing pet health and wellness sector, world-class management team, solid financial position and the potential up-list of our stock, we are seeing a multitude of strategic opportunities coming our way. We felt the need to form a committee to vet all possible options and outcomes in order to maximize shareholder value.”
Other related developments from around the markets include:
Chewy Inc. (NYSE:CHWY) just announced it will report fiscal fourth quarter and full year 2020 financial results after the market close on Tuesday, March 30, 2021. Management will host a conference call and webcast to discuss the Company's financial results at 5:00 pm ET.
Amazon.com Inc. (NADAQ:AMZN) plans to open a new fulfillment center in Amarillo, Texas. The new operations facility is expected to create over 500 new, full-time jobs with industry-leading pay and comprehensive benefits starting on day one. “We look forward to becoming part of the fabric of the Amarillo community and are thrilled to be able to expand our operations in the Texas panhandle,” said Mark Marzano, Director of Operations at Amazon. “We’re grateful for the support we’ve received from local and state leaders and look forward to creating over 500 new, full-time jobs for the local community.”
Petco Health and Wellness Co. (NASDAQ:WOOF), a complete partner in pet health and wellness, will release its Fourth Quarter & Fiscal 2020 earnings results on March 18, 2021 at 7:30am EST. Additionally, Petco executives will host a conference call at 8:30 A.M. Eastern Time to review the company's financial and operating performance.
Petmed Express Inc. (NASDAQ:PETS) announced its financial results for the quarter ended December 31, 2020. Net sales for the quarter ended December 31, 2020 were $65.9 million, compared to $59.9 million for the quarter ended December 31, 2019, an increase of 10.0%. Net sales for the nine months ended December 31, 2020 were $237.5 million, compared to $209.8 million for the nine months ended December 31, 2019, an increase of 13.2%. Net income was $7.6 million, or $0.38 diluted per share, for the quarter ended December 31, 2020, compared to net income of $6.8 million, or $0.34 diluted per share, for the quarter ended December 31, 2019, an 11.3% increase to net income.
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