Better Choice Company Inc. - BTTR STOCK NEWS

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.

Better Choice Company Inc. (NYSE American: BTTR) reported a 19% increase in net sales for 2022, totaling $54.7 million. The fourth quarter saw net sales of $9.3 million. Significant growth was noted in the International channel, which experienced 48% year-over-year growth, while Brick & Mortar sales surged 72%. However, E-commerce sales decreased by 3% and Direct to Consumer sales declined 30%. The company reported a gross margin of 28% for the year, which adjusts to 31% when excluding inventory rationalization impacts. The net loss for the year was $(39.3 million), highlighting continuing operational challenges.

Better Choice Company (NYSE: BTTR) announced that its pet food brand, Halo, was voted the 2022 Consumer’s Favorite Imported Cat Brand by the China Pet Industry White Paper. This recognition was based on a survey of over 30,000 pet owners in China, who praised Halo for its responsibly sourced ingredients and taste. Established over 30 years ago, Halo is committed to providing natural and high-quality pet food products. This award reaffirms Halo's position as a leading US pet food brand in China, reflecting its ongoing mission to deliver nutritious pet food.

Better Choice Company (NYSE: BTTR), a pet health and wellness firm, announced that it has received interest in its Halo brand pet products and is initiating a strategic alternatives review. The company is considering various options including a sale, merger, asset divestiture, or entering new revenue sectors. Interim CEO Lionel Conacher emphasized that the objective is to maximize shareholder value through this evaluation process. However, there is no guarantee that this review will lead to any transactions, and the company will provide updates only if specific deals are made.