Better Choice New Product Line, Halo Elevate, Achieves Strong Sales Growth in Pet Specialty Channel

Rhea-AI Summary

Better Choice Company (NYSE: BTTR) announced a significant 15.6% growth in point-of-sales for its new Halo Elevate product line at Petco over the last 12 weeks, outperforming Petco's 5% year-over-year sales growth in Q4 2022. Additionally, Halo Elevate achieved 9.3% growth in the total Pet Specialty channel. The company attributes this success to its high-quality, natural ingredients and strong partnerships in the pet specialty market. Established over 30 years ago, Halo is committed to providing natural pet food without artificial additives, aiming to enhance pets' health.

Positive

• Achieved 15.6% POS growth at Petco over the last 12 weeks.
• Outperformed Petco's overall sales growth of 5% in Q4 2022.
• Halo Elevate saw 9.3% growth in the total Pet Specialty channel.

Negative

• None.

NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE: BTTR) (“Better Choice” or “the Company”), a pet health and wellness company, is proud to announce the success of its new Halo Elevate product line, achieving an increase of 15.6% point-of-sales (‘POS’) growth at Petco in the most recent 12 weeks compared to the prior 12 weeks of 2022. Petco’s comparable sales growth was 5% year-over-year in Q4 2022, indicating that Halo Elevate is outpacing Petco's retail growth. In addition, Halo Elevate achieved 9.3% growth in the total Pet Specialty channel year-to-date vs. the last 12 weeks of 2022.

"We are thrilled with the strong sales growth that Halo Elevate has achieved," said Donald Young, Chief Sales Officer of Halo Pet Food. "This success is a testament to the high nutritional value of our products, the trust that our pet owners have in our brand, and the strong partnerships we have formed in the pet specialty channel. We remain committed to providing pets with the best possible nutrition and are proud to be a trusted partner of our strategic retail partners."

Halo Elevate is a super-premium, natural pet food that was formulated with industry-leading nutrient levels to deliver optimal pet health with unmatched transparency. Halo Elevate leads the way by delivering on the top 5 pet health concerns and has recipes that are suitable for all life stages and breed sizes, making it a versatile choice for all pet owners.

Halo Pet Food has been committed to providing pets with natural, high-quality foods since its inception over 30 years ago. The brand offers a range of cat and dog food products made with responsibly sourced ingredients without any artificial colors, flavors, or preservatives. Halo Pet Food is also known for its philanthropic efforts, donating to animal welfare organizations.

For more information on Halo Pet Foods and the Elevate product line, please visit their website at www.halopets.com.

About Better Choice Company, Inc.
Better Choice Company Inc. is a pet health and wellness company focused on providing pet products and services that help dogs and cats live healthier, happier and longer lives. We offer a broad portfolio of pet health and wellness products for dogs and cats sold under our Halo brand across multiple forms, including foods, treats, toppers, dental products, chews, and supplements. We have a demonstrated, multi-decade track record of success and are well positioned to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. Our products consist of kibble and canned dog and cat food, freeze-dried raw dog food and treats, vegan dog food and treats, oral care products and supplements. Halo’s core products are made with high-quality, thoughtfully sourced ingredients for natural, science-based nutrition. Each innovative recipe is formulated with leading veterinary and nutrition experts to deliver optimal health. For more information, please visit https://www.betterchoicecompany.com .

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:
Better Choice Company Inc.
Lionel F. Conacher, Interim CEO

Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
T: 212-896-1254
Valter@KCSA.com

FAQ

What is the recent sales growth for Better Choice Company's Halo Elevate products?

Halo Elevate achieved a 15.6% increase in point-of-sales growth at Petco in the last 12 weeks.

How does Halo Elevate's growth compare to Petco's overall sales?

Halo Elevate's 15.6% growth significantly outpaced Petco's 5% year-over-year sales growth in Q4 2022.

What percentage growth did Halo Elevate see in the total Pet Specialty channel?

Halo Elevate achieved 9.3% growth in the total Pet Specialty channel year-to-date.

What kind of products does Halo Elevate offer?

Halo Elevate offers super-premium, natural pet food formulated to meet the top pet health concerns.