| Over a week ago | ||||
Central Garden & Pet… Central Garden & Pet announced that it has acquired DoMyOwn.com, an online retailer of professional-grade control products in the United States. The addition of DoMyOwn's professional-grade control business strengthens the Company's position in the control product category. In addition, it brings to Central a best-in-class eCommerce fulfillment platform and digital capabilities strengthening the Company's ability to service the growing eCommerce needs of both consumers and retail customers' omnichannel platforms. "We are pleased to welcome DoMyOwn into the Central Garden & Pet organization," said Tim Cofer, CEO of Central. "Our new Central to Home strategy is focused on meeting consumer needs, strengthening customer partnerships, building scale in core categories and adding key digital capabilities. Combining DoMyOwn's leading online platform for eCommerce fulfillment with our leadership in pest control products is another exciting step in executing our strategy." The transaction closed on December 18, 2020. Purchase price and other terms of the transaction were not disclosed. | ||||
| Over a month ago | ||||
Central Garden & Pet… Central Garden & Pet announced that it has launched Central Ventures, a venture fund dedicated to discovering emerging businesses that are focused on innovating and shaping the future of the garden and pet industries. The fund is a key priority in the company's new 'Central to Home' strategy, which was unveiled today at Central's first Investor Day. "At Central Garden & Pet, we know we must always be looking ahead and investing in the leaders and ideas of tomorrow to ensure we are positioned to drive the future of our industries," said Tim Cofer, CEO of Central. "Our new 'Central to Home' strategy includes a renewed focus in venture that will bring exciting new products and capabilities into the organization. Additionally, we're looking forward to teaming up with great businesses and leaders and leveraging our capabilities to help them unlock their full potential." | ||||
| Over a quarter ago | ||||
Going into March, at the… Going into March, at the outset of the COVID-19 outbreak in the US, the Company was on course to deliver its full year expectations; and, despite the outbreak, underlying business momentum was solid, as evidenced by second quarter results. In March, as the COVID-19 pandemic became more pronounced in the US, our business experienced the practical realities of navigating the pandemic - including the impact of retail location closures as well as in-store curtailments or redirections of foot traffic and limited access to specialty areas, such as outdoor garden or live animals. This impact was largely mitigated in Q2 by the favorable effect of evolving consumer spending patterns, including a rise in demand related to increases in pet ownership, temporary consumables stockpiling, and a pronounced shift from a mix of channels to e-commerce. Given the unprecedented uncertainty of the global COVID-19 crisis, including the lack of clarity into the future and the rapid pace of change, the Company is suspending providing guidance for fiscal 2020 until the COVID-19 situation in the US stabilizes. | ||||
Reports Q2 revenue… Reports Q2 revenue $703.2M, consensus $705.76M. "We delivered a solid second quarter with both sales and profit growing versus prior year, driven in part by our recent acquisitions. This performance was achieved despite the recent headwinds posed by the unprecedented challenges of COVID-19. I am inspired by the level of commitment, creativity and collaboration I have seen from our employees, and I am grateful for their efforts, particularly those on the front line in our manufacturing, logistics and merchandising teams, " said Tim Cofer, CEO of Central Garden & Pet. "Our primary focus has been on the health and safety of our employees, as well as on company-wide business continuity efforts." | ||||
Fly Intel: After Hours Movers »
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UP AFTER EARNINGS:… UP AFTER EARNINGS: LiveRamp (RAMP) up 10.4%... Sonos (SONO) up 9.9%... e.l.f. Beauty (ELF) up 8.7%... Axcelis Technologies (ACLS) up 7.2%... Arrowhead Pharma (ARWR) up 6.7%... Curo Group (CURO) up 6.2%... QuinStreet (QNST) up 6.2%... Zynga (ZNGA) up 5.2%... Glu Mobile (GLUU) up 4.5%... Central Garden & Pet (CENTA) up 4.3%... FormFactor (FORM) up 4.3%... Nuance Communications (NUAN) up 4.0%... Coherent (COHR) up 3.7%... CSG Systems (CSGS) up 3.4%... iRobot (IRBT) up 3.4%... Ensign Group (ENSG) up 3.3%... Fox Corp (FOXA) up 3.2%... Spirit Airlines (SAVE) up 2.4%... Flowers Foods (FLO) up 2.2%... Lincoln National (LNC) up 2.0%... Cognizant (CTSH) up 1.6%... DOWN AFTER EARNINGS: GoPro (GPRO) down 13.5%... EnerSys (ENS) down 12.9%... Angi Homeservices (ANGI) down 10.7%... Amerco (UHAL) down 10.3%... Ceridian HCM (CDAY) down 9.2%... Peloton (PTON) down 8.0%... Two Harbors (TWO) down 5.0%... Twilio (TWLO) down 4.7%... PayCom (PAYC) down 4.6%... FireEye (FEYE) down 4.5%... NetGear (NTGR) down 3.6%... Yum China (YUMC) down 3.0%... MaxLinear (MXL) down 2.6%... GrubHub (GRUB) down 2.0%... Ichor Holdings (ICHR) down 1.9%... Qualcomm (QCOM) down 1.8%... IAC (IAC) down 1.8%... MetLife (MET) down 1.6%. ALSO LOWER: Funko (FNKO) down 36.0% after below-consensus preliminary Q4 outlook... ION Geophysical Corp (IO) down 20.6%... Applied Genetic Technologies (AGTC) down 8.7% after equity offering... Movers as of 18:15ET. | ||||
Consensus $1.61. | |
Reports Q1 revenue… Reports Q1 revenue $482.8M, consensus $473.33M. "Our first quarter performance was in line with our expectations, reflecting several headwinds we anticipated and discussed on our last earnings call," said Tim Cofer, CEO of Central Garden & Pet. "Importantly, the first quarter is historically the smallest of the year, and we continue to be confident in our full year guidance." |