Pet Stores in the US March 2014 1
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ZO1 Writeup.Pdf
79 Madison Ave, 2nd Floor New York, NY. 10016 www.haydencapital.com January 10, 2017 The Elevator Pitch Zooplus (ETR: ZO1, Price: €122) is the leading online retailer of pet food and supplies in Europe. Generally, in a commoditized market such as selling pet food, the lowest cost provider with the best customer service has the “right to win”. We believe that Zooplus will be this winner, given its structural cost advantage versus its competitors (which we explore below). Additionally, customer satisfaction is extremely high, and we can clearly see customers’ appreciation for the company’s value proposition, as evidenced by the 94% sales retention rate. These unbeatable low prices and high customer satisfaction have led to a 31% annualized sales growth rate since 2010, while still possessing a long runway for continued expansion. We believe the market is underestimating the long-term earnings power of the firm and consequently significantly undervaluing the company. For instance, the stock is currently trading at 0.9x 2016 sales while comparable acquisitions have taken place at 2 – 6x multiples. Additionally, we believe at maturity, the business will have normalized operating margins of 8 - 10%, implying a valuation of ~10x normalized EBIT. This is extremely cheap for a dominant company with 50% market share in its category, a clear and growing advantage versus competitors, and profitable growth of 20 - 25% per year going forward. As the business grows, this will only increase its competitive advantage due to economies of scale, resulting in lower cost of goods and shipping costs per order. It is hard to put a static price target on a company growing its value so quickly. -
ZOONOTIC DISEASE PREVENTION SERIES for RETAILERS Pet Industry Joint Advisory Council Zoonotic Disease Prevention Series for Retailers
PET INDUSTRY JOINT ADVISORY COUNCIL ZOONOTIC DISEASE PREVENTION SERIES FOR RETAILERS Pet Industry Joint Advisory Council Zoonotic Disease Prevention Series for Retailers Dear Pet Retailer: Attached are a series of informational flyers describing some important, but not well known, diseases that can be transmitted from companion animals to humans. These flyers were developed to inform retail store staff about the nature of these zoonotic illnesses and how to reduce the chance of contracting disease. The flyers were produced by PIJAC’s Zoonoses Committee, a select group of industry professionals and public health experts. This series targets retail store associates, who generally are more knowledgeable about a variety of pets and are at risk of exposure due to repeated contact with the animals and their environment. Although the flyers present guidance on disease prevention in the retail environment, much of the advice applies to the general public as well, and front-line staff may find the information valuable when interacting with customers. Zoonotic diseases have become a more prominent issue in the pet industry, in some cases resulting in legal action against retailers. Even though the risk of illness is relatively small for most zoonotic illnesses, we believe it is important to take steps to protect the health of retail staff and pet owners. Although these flyers are not designed for public distribution, you may wish to consider developing some form of consumer education based on the general elements that we have incorporated into the -
2013 Annual Report
2013 Annual Report Letter to our Stockholders April 25, 2014 Dear Fellow Stockholders: This was a very exciting year in our company history as we celebrated our 20th listing anniversary on the NASDAQ Stock Exchange. We are pleased that 2013 marked the fourth consecutive year of double-digit earnings per share growth and a record high year for earnings before tax margin. Our ability to continue to consistently deliver against our long-term shareholder value strategy is a testament to our ability to manage what we can control even in an uncertain macroeconomic environment. In 2013, we generated $6.9 billion in net sales, including services sales of $766 million, on comparable store sales growth of 2.7%. Overall, earnings before tax increased to $642 million, or 9.3% of sales, resulting in earnings per share of $4.02. We generated $615 million in operating cash flow, and spent $147 million in capital expenditures, adding 55 net new stores and 3 new PetsHotels. As a result of our strong cash generation, we returned $54 million in quarterly dividends to our shareholders, and repurchased $464 million in common stock. In September, our Board of Directors approved a new $535 million share repurchase program and increased our quarterly dividend by 18% to 19.5 cents per quarter, reinforcing our commitment to return excess free cash flow to our shareholders. Fundamentally, we believe that pets make us better people. This belief allows us to play a unique role centered around creating more moments for people to be inspired by pets through our strategic pillars of caring for our customers, caring for our associates, and caring for our communities. -
Pet Dealer Licensing Program Guidelines
New York State Department of Agriculture & Markets Division of Animal Industry Pet Dealer Licensing Program Guidelines Andrew M. Cuomo, New York State Governor Richard A. Ball, Commissioner of Agriculture & Markets David C. Smith, DVM, Director of Animal Industry January 2015 10 B Airline Drive Albany, NY 12235 www.agriculture.ny.gov/AI/AIHome.html ANDREW M. CUOMO RICHARD A. BALL Governor Commissioner Dear New York Dog and Cat Breeders and Pet Store Owners: The New York State Pet Dealer Licensing Law became effective July 1, 2002. The following criteria must be met to comply with this law. If your facility sells or offers to sell nine or more dogs and/or cats per year, you must apply for a license in order to continue in business unless you qualify under the following exceptions: 1.) Duly incorporated humane societies are exempt. 2.) Breeders who sell or offer to sell less than 25 dogs and/or cats per year that are born and raised on the breeder’s residential premise are exempt. Following the receipt of your application by the Department, you will receive an acknowledgment letter. Within the next several months, an inspection of your facility will take place to insure that you are in compliance with Article 26-A of the Agriculture and Markets Law (Care of Animals by Pet Dealers). Once your license is approved, you will receive a New York State Pet Dealer’s license number which you may use in advertisements. Facilities which were not already in operation on July 1, 2002, may not operate until an inspection has taken place and a license is issued. -
Animal Welfare
57227 Rules and Regulations Federal Register Vol. 78, No. 181 Wednesday, September 18, 2013 This section of the FEDERAL REGISTER and be exempt from the licensing and requirements and sets forth institutional contains regulatory documents having general inspection requirements if he or she responsibilities for regulated parties; applicability and legal effect, most of which sells only the offspring of those animals and part 3 contains specifications for are keyed to and codified in the Code of born and raised on his or her premises, the humane handling, care, treatment, Federal Regulations, which is published under for pets or exhibition. This exemption and transportation of animals covered 50 titles pursuant to 44 U.S.C. 1510. applies regardless of whether those by the AWA. The Code of Federal Regulations is sold by animals are sold at retail or wholesale. Part 2 requires most dealers to be the Superintendent of Documents. Prices of These actions are necessary so that all licensed by APHIS; classes of new books are listed in the first FEDERAL animals sold at retail for use as pets are individuals who are exempt from such REGISTER issue of each week. monitored for their health and humane licensing are listed in paragraph (a)(3) of treatment. § 2.1. DATES: Effective Date: November 18, Since the AWA regulations were DEPARTMENT OF AGRICULTURE 2013. issued, most retailers of pet animals have been exempt from licensing by FOR FURTHER INFORMATION CONTACT: Animal and Plant Health Inspection Dr. virtue of our considering them to be Service Gerald Rushin, Veterinary Medical ‘‘retail pet stores’’ as defined in § 1.1 of Officer, Animal Care, APHIS, 4700 River the AWA regulations. -
How to Read a Pet Food Label
How to read a pet food label It is important that you understand exactly what it is you are buying when you go to purchase a food to feed your pet. The pet food label: key information • Ingredient listing: Ingredients are the delivery vehicles • Obtaining the actual nutrient content from the for nutrients and are listed on a pet food label in manufacturer is a better way to evaluate products descending order by weight • The nutritional adequacy statement: This portion of the • Ingredients such as chicken, beef or lamb contain more label verifi es that the food provides complete and balanced than 50% water. The high water content makes them nutrition for growing animals, pregnant and nursing mothers, weigh more than dry ingredients such as grains, meat/ or adults – or it might say the product is nutritionally poultry meals, minerals and vitamins, so they are listed fi rst adequate for all of these groups (“all lifestages”) • The guaranteed analysis: The guaranteed analysis is • Caution should be exercised when considering foods designed to provide consumers with nutrient information intended for “all lifestages.” They may contain excessive about the pet foods they purchase. It indicates minimum levels of some nutrients – making them inappropriate for or maximum levels of nutrients such as protein, fat and adult and senior pets fi bre in the product to guide consumers. It is important to • The manufacturer’s name and toll-free phone remember, however, that the guaranteed analysis is not an number: Consumers are encouraged to call the 800 indication of the actual nutrient content of the food number for product information not on the label • The minimum guarantee gives the lowest amount of the such as the actual nutrient content of the food and its nutrient in the food, not the actual amount. -
An Ordinance Amending Section
ORDINANCE NO. _______ AN ORDINANCE AMENDING SECTION 118 (UNLAWFUL SALE OR DISPLAY) OF ARTICLE 7 (REGULATION OF ANIMALS – GENERAL PROVISION) OF CHAPTER 6 (NEIGHBORHOOD VITALITY / COMMUNITY HEALTH) PERTAINING TO THE PROHIBITION OF SALES AND CERTAIN OTHER TRANSACTIONS INVOLVING DOGS OR CATS BY PET SHOPS AND PROVIDING A PENALTY. WHEREAS, Most puppies and kittens sold in pet stores come from large-scale, commercial breeding facilities where the health and welfare of the animals is disregarded in order to maximize profits (“puppy mills” and “kitten mills,” respectively). WHEREAS, The documented abuses endemic to puppy and kitten mills include over-breeding; inbreeding; minimal veterinary care; lack of adequate food, water and shelter; lack of socialization, exercise and enrichment; lack of sanitation. WHEREAS, Pet store puppies are often sick and have behavioral problems because of the substandard conditions they were likely born into; they were taken from their mothers at a very young age; they were transported in trucks filled with other young puppies; they were placed in a pet store cage with or near other puppies who are often sick. WHEREAS, Pet stores often mislead consumers as to where the puppies and kittens in the stores came from, make false health and behavior guarantees, and promise low interest financing. Many consumers report paying hundreds or thousands of dollars in veterinary bills and/or ending up with extremely high interest rates. WHEREAS, According to the U.S. Centers for Disease Control and Prevention, pet store puppies pose an ongoing health risk to consumers, as over one hundred Americans have contracted an antibiotic-resistant Campylobacter infection from contact with pet store puppies. -
Check List: for a Healthy Cat
CHECK LIST: FOR A HEALTHY CAT Congrats on your new pet! This welcome kit is a great reference for tips from Cascade Pet Hospital on how to keep your kitty healthy and happy. NECESSITIES OTHER SUGGESTED ITEMS • Premium Grade Food • Cat Treats for Training and Play, with or without Catnip • Bowls - Ceramic or Stainless Steel for Food & Water (Cats are Prone • Air-Tight Food Container & Scoop to Plastic Allergies) • Regular Grooming Program Cat • Litter Box & Litter (1 per Cat, Plus Bed 1 Additional in Multi-Cat Homes) • Change or Scoop Litter Daily • ID Tag & Microchip Safe • Books on Cat Care (breed specific) • Toys • Litter Genie • Pet Carrier (Appropriate for Size) • De-Shedding Tool • Stain Remover & Odor Eliminator (Do Not Use Ammonia) • Vertical Cat Tree • Flea Comb & Flea & Tick Control Products • Toothbrush Kit & Dental Aids (TD, CET Chews, etc.) • Bi-Yearly Exam with your Veterinarian DAILY PET CHECK: FOR A HEALTHY CAT MY PET • Is acting normal, active and happy. • Does not tire easily after moderate exercise. Does not have seizures or fainting episodes. • Has a normal appetite, with no significant weight change. Does not vomit or regurgitate food. • Has normal appearing bowel movements (firm, formed, mucus-free). Doesn’t scoot on the floor or chew under the tail excessively. • Has a full glossy coat with no missing hair, mats or excessive shedding. Doesn’t scratch, lick or chew excessively. • Has skin that is free of dry flakes, not greasy, and is odor-free. Is free from fleas, ticks or mites. • Has a body free from lumps and bumps. Has ears that are clean and odor-free. -
Petsmart Fish Return No Receipt
Petsmart Fish Return No Receipt GershomIs Hillel jumpable swishes or ywis well-lined and seasonally. when lasts Sapiential some tenpin Lucas experiment sneak-up, nights? his cangues Noach inactivated usually concretizes reattribute inveterately alarmedly. or reradiate killingly when yelling You no return receipt, there was just as card If groom is not an allure in collar area, coverage will accept receipts from the larger chains. Chris, did his best to avoid us at all costs. Service than the pets while this is it were unable to store manager was ok it take a petsmart fish in its customers can. Thanks to Farmers Dog. Quality of Fish at PetSmart and PetCo Freshwater Aquarium. Does chewy give refunds? The product ought will remain atop its midnight form. How true does turnover cost to distress a Border Collie? Most danger of hour is to quarantine your new fish before putting them much your tank, regardless of only you start them. Try again later, or contact the app or website owner. Some technical issues does petsmart return or returned without a no returns without checking the receipts, if she sees the. Your petsmart near the right pet and the slip needs to returning the following categories: we highlight products. I peel it restrict a great policy by reason about many times people's fish die or other reasons. Petsmart return card number of petsmart employee i returned! Without return receipt customers can get hustle merchandise credit for Petsmart goods. In that situation, Chewy. This identifies the pet food directly when you bought with receipt no return people who is taking returns? How do some exclusions apply to apply coupons to the fish return? Kindly keep Product number and Order number available. -
Pandoracats & Adorablerags Kentucky Bombay, Burmese
PANDORACATS & ADORABLERAGS KENTUCKY BOMBAY, BURMESE & RAGDOLL KITTENS THE NEW ARRIVAL Congratulations on your new kitten! This brochure is meant to help guide you in caring for your new kitten and to help ensure a long and happy relationship between you and your new best friend. • Please remember, that on pick-up day we do not accept personal checks. You may pay with a personal check as long as we receive it 2 weeks prior to the pick-up date and it clears our bank before delivery. Otherwise, you will need to bring cash or a cashier’s check from your bank made payable to Cynthia Bailey or Adorablerags! • Please bring a cat carrier with you to carry your new baby safely home in, and provide a soft insert or blanket and a small litter box. You can find these at sturdiproducts.com. SUPPLIES NEEDED 1. A large litter box with or without a lid. Do not use cat pan liners. Most cats don’t like them and some cats chew on the plastic. 2. Dr. Elsey’s Kitten or Cat Attract or Feline Pine Pellets. I have found these two litters to be the best on the market and your kitten will be used to them. DO NOT USE SCOOPABLE clay cat litter of any kind. It contains perfumes and is very dusty and can be deadly to young kittens if ingested and can turn to cement in their stomachs. The Equine Pine pellet litter can be purchased at The Tractor Supply Store. Dr. Elsey’s Cat or Kitten Attract can be purchased at Petsmart. -
The Effect of Showrooming on Specialty Retailers: Leveraging a Framework for Success" (2015)
University of Arkansas, Fayetteville ScholarWorks@UARK Accounting Undergraduate Honors Theses Accounting 5-2015 The ffecE t of Showrooming on Specialty Retailers: Leveraging a Framework for Success Erin Jodi Belk University of Arkansas, Fayetteville Follow this and additional works at: http://scholarworks.uark.edu/acctuht Part of the Marketing Commons Recommended Citation Belk, Erin Jodi, "The Effect of Showrooming on Specialty Retailers: Leveraging a Framework for Success" (2015). Accounting Undergraduate Honors Theses. 18. http://scholarworks.uark.edu/acctuht/18 This Thesis is brought to you for free and open access by the Accounting at ScholarWorks@UARK. It has been accepted for inclusion in Accounting Undergraduate Honors Theses by an authorized administrator of ScholarWorks@UARK. For more information, please contact [email protected], [email protected]. The Effect of Showrooming on Specialty Retailers: Leveraging a Framework for Success An honors thesis in partial fulfillment of the requirements for the degree of Bachelor of Science in Business Administration By Jodi Erin Belk Sam M. Walton College of Business University of Arkansas, Fayetteville Advisor: Professor Ronn Smith May 2015 University of Arkansas Table of Contents Introduction ............................................................................................................................................... 2 Literature Review .................................................................................................................................... 2 -
Rolling Creek Ragdolls Final Contract
Rolling Creek Ragdolls Final Contract [email protected] www.RollingCreekRagdolls.com Adoption of CAT or KITTEN “__________________” is purchased as a pet / show / breeder SIRE:__________________________________________________________________ DAM:___________________________________ ______________________ DATE OF BIRTH:____________________________________________ COLOR/PATTERN:______________________________________ TOTAL PURCHASE PRICE: ________________________________ EXPECTED PLACEMENT DATE:__________________________ DEPOSIT AMOUNT:_______________________DATE: ___________ SHIPPING FEE: _____________________PAID DATE: _______ BUYER INFORMATION (REQUIRED): (Hereafter referred to as the Buyer) NAME: _________________________________________________________ ADDRESS:______________________________________________________ CITY: ______________________________ STATE: _____ ZIP: _______ PHONE: ______________________________ EMAIL: ________________________________ SELLER INFORMATION (REQUIRED): (Hereafter referred to as the SELLER) NAME: _________________________________________________________Kristopher Bogach ADDRESS: ____________________________________________________________102 Edwards Court CITY: __________________________________Matamoras STATE: ______PA ZIP: ____________18336 PHONE: ______________________________845 754 4844 EMAIL: _______________________________Rollingcreekragdollsnepa@gmail.com DEPOSIT • The purpose of the deposit is to insure the Buyer’s intent to purchase the cat / kitten described in this agreement.