Welcome to our first official period update of 2017, which is already shaping up to be another great year in Petcare! Sure, we’ll have our challenges, however, the hard work we did last year to improve our ability to invest and develop some great new innovation and renovation on our business is already starting to pay off!
Here is how we did out of the gate:
Our earnings and cash came in ahead of expectations due to our improved margins and strong affiliate (export) sales. Though we had two orders from Costco and LCL shift into P13 due to a statutory holiday – causing a miss to our topline – we’re on track to make this up by end of Q2.
We have great news on our efforts to regain momentum on Dog Dry too. After a blockbuster Q4, PEDIGREE® and IAMS® dry growth has rebounded with share gains in the latest 12 weeks – congratulations everyone! By keeping up the pressure on the competition we’ll continue to build share across our entire portfolio! Our Cat Portfolio continues to grow and gain share as well.