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4/2003
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APPMA releases new market figures
The American Pet Products Manufacturers Association (APPMA) has released new figures proving the pet industry in the USA is truly top dog when it comes to spending. While other sectors have suffered for many years from a weak economy, pet spending has doubled from $17 billion in 1994 to a projected $34.3 billion for 2004.
2003 was also even more successful than projected with total sales coming in at $32.4 billion. This makes the pet industry 60 percent larger than the toy industry ($20 billion) and 33 percent larger than the confectionery industry ($24 billion).
“These spending figures reflect a change that has been occurring over the past decade of pets transitioning into the family,” said Bob Vetere, APPMA COO and managing director. “As more and more people consider and treat pets like children, they’re purchasing products and services that you wouldn’t have typically seen our grandparents buying for their pets.”
The pet market in the USA continues to grow.
According to the APPMA, Americans are expected to spend more than ever on their pets in 2004: $14.3 billion on food, $7.9 billion on supplies and O-T-C medications, $8.3 billion on veterinary care, $1.6 billion on live animal purchases and $2.2 billion on other services. Industry estimates indicate that 2004 will grow by another 5.9 percent to $34.3 billion, double what it was a decade ago.
Third quarter results
Central Garden & Pet Company, a leading supplier and producer of quality branded products for the pet and lawn and garden markets (“Kaytee”, “Nylabone”, “Four Paws”, Zodiac”, “Interpet” etc.) has announced its financial results for the fiscal third quarter of 2004, ended June 26, 2004. Net sales for the third quarter of fiscal 2004 were $374.4 million, an 8.5% increase from $345.1 million in the comparable fiscal 2003 period. The company recorded net income for the quarter of $17.9 million, a 4.1% increase when compared to net income of $17.2 million in the comparable year ago period. Diluted earnings per share were $0.86, the same as the comparable year-ago period. Depreciation and amortization for the quarter was $4.7 million, compared to $4.5 million in the year-ago period. Net sales for the first nine months of fiscal 2004 were $955.8 million, a 7.7% increase from $887.6 million in the comparable fiscal 2003 period. The Company recorded net income for the first nine months of $36.1 million, a 20.3% increase when compared to the comparable period a year ago…
The American Pet Products Manufacturers Association (APPMA) has released new figures proving the pet industry in the USA is truly top dog when it comes to spending. While other sectors have suffered for many years from a weak economy, pet spending has doubled from $17 billion in 1994 to a projected $34.3 billion for 2004.
2003 was also even more successful than projected with total sales coming in at $32.4 billion. This makes the pet industry 60 percent larger than the toy industry ($20 billion) and 33 percent larger than the confectionery industry ($24 billion).
“These spending figures reflect a change that has been occurring over the past decade of pets transitioning into the family,” said Bob Vetere, APPMA COO and managing director. “As more and more people consider and treat pets like children, they’re purchasing products and services that you wouldn’t have typically seen our grandparents buying for their pets.”
The pet market in the USA continues to grow.
According to the APPMA, Americans are expected to spend more than ever on their pets in 2004: $14.3 billion on food, $7.9 billion on supplies and O-T-C medications, $8.3 billion on veterinary care, $1.6 billion on live animal purchases and $2.2 billion on other services. Industry estimates indicate that 2004 will grow by another 5.9 percent to $34.3 billion, double what it was a decade ago.
Third quarter results
Central Garden & Pet Company, a leading supplier and producer of quality branded products for the pet and lawn and garden markets (“Kaytee”, “Nylabone”, “Four Paws”, Zodiac”, “Interpet” etc.) has announced its financial results for the fiscal third quarter of 2004, ended June 26, 2004. Net sales for the third quarter of fiscal 2004 were $374.4 million, an 8.5% increase from $345.1 million in the comparable fiscal 2003 period. The company recorded net income for the quarter of $17.9 million, a 4.1% increase when compared to net income of $17.2 million in the comparable year ago period. Diluted earnings per share were $0.86, the same as the comparable year-ago period. Depreciation and amortization for the quarter was $4.7 million, compared to $4.5 million in the year-ago period. Net sales for the first nine months of fiscal 2004 were $955.8 million, a 7.7% increase from $887.6 million in the comparable fiscal 2003 period. The Company recorded net income for the first nine months of $36.1 million, a 20.3% increase when compared to the comparable period a year ago…
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