Dogness Reports Strong Holiday Sales; Expects Continued Customer Demand
Dogness International Corporation (NASDAQ: DOGZ) reported strong holiday sales for 2020 and anticipates sustained demand into 2021. The company's smart pet fountains drove significant sales, with models like the Smart Fountain Mini and Plus gaining popularity. CEO Silong Chen highlighted efforts to strengthen partnerships with online and retail channels while focusing on innovation for profitability.
The firm benefits from a growing trend in pet ownership amid the pandemic, which has increased demand for their product lines. Dogness remains optimistic about future revenue growth.
- Strong holiday sales performance in 2020.
- High demand for smart pet products, including multiple fountain models.
- Strategic partnerships with online and retail partners are expanding.
- Focus on innovation and quality with over 200 patents enhances market position.
- Risks related to the lingering effects of the Covid-19 pandemic could impact future sales.
- Potential fluctuations in earnings and foreign exchange rates affecting profitability.
PLANO, Texas, Jan. 11, 2021 /PRNewswire/ -- Dogness International Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced it experienced strong 2020 holiday sales and expects continued demand in 2021.
The Company noted its sleek, easy to use smart pet fountains were a big hit in the recently ended 2020 holiday season, with high demand for all three smart filtering fountains, including the Smart Fountain Mini (1L), Smart Fountain (2L) and Smart Fountain Plus (3.2L). Other top selling products included Dogness' pet-tech and smart pet products, including its connected and programmable feeders, monitors and treaters.
Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, "We are benefitting from our team's tireless efforts to expand already close relationships with key online, warehouse and retail partners, as we bring our sought after product lines to an even larger customer audience. This extends from our high-quality, durable line of retractable pet leashes all the way up to our pet-tech and smart pet product lines. Investments we made in our infrastructure and sales team are already paying off, which we fully expect will continue to gain momentum through 2021. We believe our focus on product innovation and quality is the right business strategy as we focus on revenue growth and increased profitability."
"We saw higher demand, along with the broader pet industry, related to the pandemic as people turned to pet ownership to help ease anxiety levels and to break the monotony of being shut-in for so long. We think this increased ownership is a good thing as more people realize the joy and satisfaction of pet ownership. If this trend continues, we could see sales in the January to June 2021 period equalling or exceeding the recent July to December 2020 holiday period. Longer-term we remain very optimistic based on our growth strategy, market position and growth expectations from our customers."
About Dogness
Dogness (International) Corporation was founded in 2003 from the belief that pet dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness is able to simplify pet lifestyles, make them more scientific, and enhance the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com.
Forward Looking Statements
No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers' businesses and end purchasers' disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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SOURCE Dogness International Corporation
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