Pet boom will continue to be great news for these companies
The growth in pet ownership over lockdown and owner’s desires to keep their pets fit and healthy has been great news for the pet care sector. However, who are going to be the long-term winners from the current pet boom? Our research here highlights some terrific companies which should continue to do well, including a star performer.
The global pet care sector has been doing nicely as a result of the ‘newfoundland’ love of pets. Nestle (SWX:NESN), a constituent of our Ultimate Stocks portfolio, reported that the largest contributor to growth in the 9 months to the end of September was its Purina PetCare brand, and more specifically its science-based and premium brands Purina Pro Plan, Purina ONE and Felix. Nestle’s PetCare sales grew 10.6% to CHF10.38bn and represented 16.7% of the Group’s sales. Subscription based models attract investors attentionShares in Chewy (NYQ:CHWY), a US based online pet products retailer, are up more than 350% since listing in…