Latest news with #petfood
CBS News
2 days ago
- General
- CBS News
Chicago Animal Care and Control running out of shelter space as stray and pet surrenders keep rising
Chicago Animal Care and Control running out of shelter space as stray and pet surrenders keep rising Chicago Animal Care and Control running out of shelter space as stray and pet surrenders keep rising Chicago Animal Care and Control running out of shelter space as stray and pet surrenders keep rising Chicago Animal Care and Control said it is seeing rising numbers of people turning in stray animals or surrendering their pets to city shelters this spring. The city agency posted on their social media that they've seen 56 animals a day in the first 20 days of May, up from 54 animals a day in April. They also posted a photo of a long line outside their intake center. They're now running out of room to take in new pets. "If you're considering surrendering, talk to us first," CACC wrote. "Rehoming directly gives your pet their best shot." The agency also said they're low on pet food and supplies for families in crisis, and noted families in crisis are more likely to give their pets up to a shelter if they cannot take care of them. They posted a link to their Amazon wishlist if anyone wants to help. Donations can also be dropped off at their facility at 2741 S. Western Avenue on Tuesdays, Saturdays and Sundays between 10 a.m. and 12 p.m.
Reuters
3 days ago
- Business
- Reuters
General Mills flags $70 million charge in current quarter from restructuring efforts
May 27 (Reuters) - General Mills (GIS.N), opens new tab said on Tuesday it would record a charge of about $70 million in its current quarter, mainly reflecting severance expenses, as part of the Cheerios cereal maker's restructuring efforts. The company's efforts, including "targeted organizational actions", are expected to be completed by the end of its fiscal year 2028, it said in a regulatory filing, adding the total cost of the restructuring would be about $130 million. General Mills did not provide further details on its restructuring actions in the filing. The company did not immediately respond to a Reuters request seeking more clarity. The move comes as the company grapples with choppy demand for its salty snacks and pet food in North America amid fierce competition from private-label rivals. In March, the company cut its annual sales and profit forecasts. Previously, the company had said that it was planning new initiatives targeting cost savings of at least $100 million in fiscal 2026.
Entrepreneur
5 days ago
- Business
- Entrepreneur
Nestlé Acquires Minority Stake in Pet Food Brand Drools
The funds raised from this investment will be deployed to enhance Drools' R&D capabilities, strengthen distribution networks, and fuel its global expansion. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Nestlé S.A. has acquired a minority stake in Drools Pet Food Private Limited, marking a major milestone in India's pet care landscape. The funds raised from this investment will be deployed to enhance Drools' R&D capabilities, strengthen distribution networks, and fuel its global expansion. Despite the strategic partnership, Drools will retain full operational independence. Founded in 2010 by Fahim Sultan, Drools has grown from a domestic start-up into a major player in the pet food sector. With a vision to offer high-quality, science-backed nutrition tailored to pets' health and dental needs, the company now operates six cutting-edge manufacturing units and maintains a vast warehousing footprint of 16 lakh sq. ft. It boasts over 650 SKUs across categories like high-protein diets, prescription formulas, and affordable meal options. "Our mission has always been rooted in providing pets with the best possible nutrition," said Fahim Sultan, Founder of Drools. "This partnership with Nestlé is a testament to the love and trust of millions of pet parents and to our unwavering commitment to quality." Drools' products are available in more than 40,000 retail outlets across India and exported to 22 countries, further supported by a dedicated team of 3,400 employees, including 1,800 sales professionals. The brand is also a dominant player in the cat food category and a top seller on leading e-commerce platforms like Amazon. Following an earlier minority investment by L Catterton in 2023, the Nestlé partnership signals further momentum. Anjana Sasidharan, Partner at L Catterton, added, "Nestlé joining the journey validates Drools' strong growth and operational excellence." With its Indian roots and international ambitions, Drools is on a path to redefine global pet care.
Yahoo
06-05-2025
- Business
- Yahoo
Pet-food maker Freshpet cuts sales, earnings guidance
Freshpet has revised its full-year 2025 outlook and now expects net sales growth of 15% to 18% down from its earlier projection of 21% to 24%. The Nasdaq-listed pet food company expects total net sales to be between $1.12bn and $1.15bn, compared to its previous estimate of $1.18bn to $1.21bn. Freshpet also revised its adjusted EBITDA guidance to between $190m and $210m, from a prior minimum of $210m. The new guidance comes as the Freshpet reported a net loss of $12.7m for the first quarter of fiscal year 2025, compared to a net income of $18.6m in the same period last year. Capital expenditures are forecast at approximately $225m, down from the earlier projection of around $250m. Freshpet CEO Billy Cyr said: 'Despite the recent macro-economic headwinds, we believe Freshpet remains a structurally advantaged business with a long runway for growth in a category with long-term tailwinds. 'However, our growth year-to-date has not been as robust as we had anticipated so we are adapting our growth plans to the current economic challenges that our consumers are facing while continuing to drive the operational improvements that are essential to our long-term success. 'Looking ahead, we believe it is prudent to adjust our 2025 outlook and plan as if the conditions we saw in the first quarter were to continue for the balance of the year. In doing so, we believe we are positioning Freshpet to weather the near-term economic headwinds and deliver long-term shareholder value while serving pets, people and the planet.' For the three months ended 31 March, Freshpet reported net sales of $263.2m, a 17.6% increase compared to the year ago period. Gross profit rose to $103.8m from $88.2m, with gross margin remaining steady at 39.4%. Adjusted gross profit was $120.2m, or 45.7% of net sales, up from $101.5m, or 45.3%. Selling, general and administrative (SG&A) expenses surged to $115.3m, up from $79.7m, largely due to increased media spend, higher share-based compensation, and one-time charges, the company said in its statement. In February, Freshpet reported that it turned a full-year 2024 net profit for the first time and raised its longer-term margin targets following a 'strong' annual sales performance. The pet-food maker exceeded its sales growth target in the 12 months ended 31 December with a 27.2% increase to $975.2m, above the 27% yearly goal it planned to reach by 2027. In what CEO Billy Cyr described as a 'breakout year' for Freshpet in fiscal 2024, the New Jersey-based business posted net income of $46.9m, a sharp turnaround from a $33.6m loss a year earlier.
