Downturn in sales at Central Garden & Pet

Central Garden & Pet has announced net sales of 1 015 mio dollars for the third quarter of the current year. This indicates a decline in net sales of two per cent compared with 1 037 mio dollars a year ago. The company attributes this decline primarily to weakness in the garden segment. Organic net sales also fell compared with the same quarter in the previous year by five per cent.

Net sales in the garden segment were down by four per cent to 511 mio dollars (previous year: 529 mio dollars), while net sales in the pet segment were put at 505 mio dollars (previous year: 508 mio dollars). Operating profit in the pet segment fell by 12 per cent to 63 mio dollars.

At the end of the quarter, the company’s cash reserves were 196 mio dollars (previous year: 517 mio dollars).