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August 7, 2014
16:35 EDTCENTACentral Garden & Pet Co. reports Q3 adjusted EPS 28c, consensus 33c
Reports Q3 revenue $437.99M, consensus $482.6M. The company said, "Despite a concerted effort to improve the takeaway of the two Garden products introduced in 2013 through product, packaging, and placement changes, as well as aggressive promotions, the company continued to experience weak consumer sales for these products in their second season. Late in the third quarter, major retailers indicated that they would not be supporting the products going forward. Consequently, the company has made the decision to discontinue these products at the end of the Garden season. In conjunction with this decision, the company recorded a $16.9M charge to write off its inventory, and account for product returns, promotional allowances, and other costs related to the discontinuance of the products. The company estimates that it may incur up to an additional $2.5M in related disposal costs which would be reflected in the fourth quarter of 2014 and future quarters."
News For CENTA From The Last 14 Days
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October 14, 2014
18:03 EDTCENTACentral Garden & Pet Co. will not pursue Harbinger Group Proposals
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