Central Garden & Pet NASDAQ: CENT reported an 8% decline in fiscal third-quarter net sales to $882 million, primarily reflecting its exit from the pet distribution business at the beginning of the quarter. Excluding that business, organic net sales rose 2% to $862 million, supported by growth in both the pet and garden segments.
Central Garden (CENT) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to earnings of $1.56 per share a year ago.
CENT is expanding into Europe through the TRIXIE acquisition, strengthening its global pet platform and international growth strategy.
Central Garden & Pet NASDAQ: CENT said it has signed an agreement to acquire a majority stake in TRIXIE, a German pet supplies company, in a transaction CEO Niko Lahanas described as a major expansion of the company's pet business and a platform for Europe.
Central Garden & Pet Company (CENT) M&A Call Transcript
CENT is improving efficiency through cost discipline, simplification and operational changes that support long-term profitability.
CENT is investing in innovation and core pet brands to drive growth, strengthen retailer relationships and expand higher-margin categories.
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Central Garden (CENT) reported earnings 30 days ago. What's next for the stock?
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Here is how Central Garden (CENT) and Carter's (CRI) have performed compared to their sector so far this year.