Spectrum Brands’ pet business grows 12.8%, income drops
Price adjustments and more product availability positively impacted the portfolio in Q3, except in Europe where sales remained flat.
In the third quarter ending July 3, 2022, the American company posted sales worth $ 290.2 million in its Global Pet Care segment. In the same period for 2021 sales accounted for $257.3 million.
The company claimed that this increase was driven by positive pricing adjustments in inflationary costs as well as improved product availability and fulfillment compared to the previous year’s supply chain challenges.
“Strong performance in companion animal consumables was offset by softness in aquatics systems and equipment,” it added.
European sales within the pet category were “adversely impacted” by unfavorable foreign exchange rates, inflation and the war in Ukraine.
The Wisconsin-based company posted global net sales of $818 million in Q3 (+10%).
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