Better Choice in-store product sales increased by 133% in Q2
The premium pet food producer reported net sales of $16.5 million, boosted by revenue in brick-and-mortar and international markets.
In the first half of the year, net sales increased by 54%, reaching $33.5 million against $21.8 million in 2021.
The company highlighted to investors that, despite unprecedented supply chain disruptions in the consumer-packaged goods industry, export sales and in-store sales performed well.
International growth continues to “exceed” expectations, driven by “Asian demand for dry cat food and new market opportunities in Mexico and Australia.”
“In the second half of 2022 we expect to realize continued gross margin improvements, primarily driven by the transition of our international dry kibble diets to a new co-manufacturer.” claimed CEO Scott Lerner.
Better Choice also plans to continue the distribution of Halo Elevate nationwide and rebrand Halo Holistic and Trudog products.