Petco Appeals to 'Pet Parents' With All-Natural Pet Food Initiatives
*By Carlo Versano*
Petco will phase out dog and cat food containing artificial ingredients and preservatives entirely by May 2019, the company announced Tuesday.
Petco CEO Ron Coughlin told Cheddar Tuesday that the decision to move to a wholly natural-ingredient line was part of a corporate strategy to become a full-service "partner to pet parents." It also reflects broader consumer trends toward healthier, organic foods ー that now includes the diets of their pets.
"All the trends that happened in farm-to-table are happening in pet food," Coughlin said. Some Petco stores will even start piloting "human-grade" food cooked in-store ー made-to-order meals for dogs.
Coughlin admitted that revenues at the privately-owned Petco could get dinged in the short run as it terminates relationships with suppliers who won't follow it to the "nutrition high ground." It's also facing headwinds from tariffs that are forcing the company to rethink aspects of its supply chain, he said.
For all the health consciousness, the move to go all-natural is very much a way for Petco to Amazon-proof ($AMZN) its business model. Coughlin said some stores will soon have on-site veterinarians, along with its roster of groomers, to create what Coughlin called "360 degree care for pets" and a one-stop shop for pet owners.
"We want to make sure we're doing the right thing for pets," he said.
For full interview [click here](https://cheddar.com/videos/petco-ceo-were-banning-artificial-ingredients).
Stan Farnsworth, chief marketing officer at PulseForge, joined Cheddar to talk about his company's debut at CES 2022 and how it plans to innovate the sustainable tech manufacturing space. PulseForge is bringing a new approach to industrial thermal processing, which contributes to 30 percent of global greenhouse gas emissions, according to Farnsworth. "By using 85 percent less energy in the processing of materials through a variety of manufacturing processes, we can make a direct impact in reducing carbon output and reducing carbon footprint associated with manufacturing," he said.
Oliver Chen, senior retail analyst at Cowen, joined Cheddar's "Opening Bell" to discuss the latest details about department store chain Kohl's after it received at least two offers from buyers to take the company private. Chen stated that Kohl's is an attractive landing spot for prospective buyers because of its premium real estate and undervalued stock prices. He also noted that despite the rise in online shopping, there is still room for brick and mortar shops to flourish. "We're very bullish on bricks meets clicks. The integration of stores and digital," Chen told Cheddar. "People love to return items in stores, people love the treasure hunt of shopping and the convenience and immediacy of stores."
Four-day week global, an organization in the UK, is pushing for a society where health and wellbeing come first, and a world in which people work to live, rather than live to work. They're demanding a four-day work week based o a recent study that proves productivity increases when working hours are reduced to 32 hours a week. Now, at least 30 companies in the UK are taking part in a four-day work week trial. joining me now is Charlotte Lockhart, founder of four-day week global.
The streaming giant Netflix posted its latest earnings from its fourth quarter after the close on Thursday. The company's stock plummeted shortly after the company warned that its rate of subscription additions are slowing down. Senior Reporter at MarketWatch Jon Swartz, joined Cheddar to discuss more.