PET FOOD BRANDS: Pet food brand brands sell a lot more than their products are eaten.
Pet food giant PetSmart has sold nearly 4.3 billion pounds of pet food since 2007, the company’s website says.
The company also has a pet food division that makes pet food that sells for between $3.25 and $4 per ounce.
In 2016, the food company spent $2.5 billion on food and related expenses, according to its annual report.
As of March 31, 2017, the PetSmart division had $3,063,000 in cash and equivalents, and $2,923,000 of marketable securities, according.
In total, PetSmart’s pet food business has grossed nearly $8 billion in revenues.
The number of pet foods sold has tripled in the past decade, with the company increasing sales from $1.1 billion in 2007 to $5.3 bn in 2020.
It also has sold more pet food products in the last two years than it did in the same time period last year, according the company.
A PetSmart spokesperson told Breitbart News that PetSmart is “committed to investing in our food supply, with significant investments in pet food innovation.”
While the company has made significant investments to expand its pet food offerings, the spokesperson added, “we continue to invest in our business to stay ahead of new trends in pet foods, and we have been able to deliver strong results for PetSmart shareholders over the last few years.”
In 2016 the company reported a net loss of $3 billion, but reported a profit of $1,081 million.
It did not disclose what PetSmart had spent on pet food.
A spokesperson for the Humane Society of the United States told Breitbart the organization has “no reason to believe that the increase in sales of pet-approved pet food would be detrimental to animal welfare.”
A spokesperson at the Animal Legal Defense Fund told Breitbart that “we would expect PetSmart to continue to provide pet food of comparable quality, value, and nutritional value to consumers in the marketplace.”
In a 2016 report, the Humane, Environmental, and Rabies Control Coalition (HERAC) said that pet food companies have a “pattern of deceptive marketing practices that are costing millions of pet owners, pets, and communities millions of dollars.”
The report called on pet owners to report pet food suppliers who misrepresent their food products and food safety to consumers.
“If consumers are paying more for pet food, it’s a clear indication that the industry is in crisis,” the report states.
“Pet food companies know how to convince us to buy pet food they say is safe, but they often don’t tell us that their food is actually tainted with toxic ingredients that have been shown to cause disease and death.”