18% sales increase for Hill’s Pet Nutrition
In its second quarter of the year, the company recorded $1.58 billion in sales.
Organic sales were up 15% and the company implemented a price increase for 4.5%.
Although growth happened across the world (except for Japan), the growth was predominantly led by the United States, Latin America and Europe.
Chief investor relations officer, John Faucher, shared: “We are seeing good results from our Hill’s master brand campaign to end Pet obesity as well as our new campaign for Hill’s Pet Essentials, our vet-distributed wellness product in Europe.”
Hill’s Pet Nutrition accounts for 19% of overall sales of parent compmany Colgate-Palmolive.
Profitability
Second quarter operating profit for Hill’s reached $212 million, an 11% increase compared to 2020.
However, due to higher raw and packaging material costs and increased advertising investment, operating profit as a percentage of sales dropped.