Veterinary drugs sales set to grow in Q1: Guggenheim

PetIQ

09/04/2021 12:39

** Guggenheim's analysis of revenue from veterinary
practices shows 8.5% growth in Q1, which brokerage notes is
above historical trends of ~6%
    ** Brokerage says online purchases of pet products and drugs
set to stay above pre-pandemic levels at about 53% 
    ** Says Chewy.com  CHWY.O  represents over 50% of all pet
online retail web traffic, PetSmart and PetCo  WOOF.O  under 40%
and PetMed Express  PETS.O  under 3% 
    ** Guggenheim believes Q1 will be the last quarter before
online shopping trends become challenging, driven by tougher
comparisons to year-ago quarters
    ** Co says web-traffic data for PetIQ  PETQ.O  points to the
potential for strong sales in Q1

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24))