Fountain Report Excerpts August 2, 2022

Fountain Report Excerpts
  1. Vetoquinol reported second quarter sales of 136 million euros, up 6.7% on a reported basis. For the first half of the year, sales of 271 million euros were up 6.1%. Sales of the company’s “Essential” products in the first half of the year increased 9.8% to 154 million euros. “In a global animal health market that is normalizing after two years of exceptional growth, our laboratory is continuing to expand, driven by our strategy of focusing on our Essential products and on the most promising territories,” said CEO Matthieu Frechin. “Our recent launches, combined with a large-scale marketing plan, offer us solid prospects. As a result, we expect to continue to grow at a sustained pace, outpacing the market in Essentials, while remaining opportunistic in terms of external growth.”
  1. Walmart last week lowered its profit outlook for the second quarter and the full year, saying rising prices on food and gas are forcing shoppers to cut back on discretionary items, particularly clothing, that carry higher profit margins, the Associated Press reports. That behavior is pushing the company to step up discounts on general merchandise items like home furnishings and electronics to move inventory. Walmart’s decision to lower its profit outlook in the middle of the quarter is rare and raised worries about how inflation, which is the highest it’s been in four decades, is affecting the entire consumer sector. The stocks of many major retailers fell after Walmart’s announcement.
  1. A southwest Florida animal shelter has seen a rise in the number of people having to give up their pets in the last six months as tightening budgets force owners to move. “I think that we’ve seen that it’s the worst that it’s ever been,” Liz McCauley, executive director at Cape Coral Animal Shelter, told Fox 4. “You have the bad economy; you have people having to move to places where they aren’t allowed to have pets, or they aren’t allowed to have a certain breed or a certain weight. So, they’re having to give up animals that they’ve had for a long time.”

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