U.S. markets closed
  • S&P 500

    4,455.48
    +6.50 (+0.15%)
     
  • Dow 30

    34,798.00
    +33.18 (+0.10%)
     
  • Nasdaq

    15,047.70
    -4.54 (-0.03%)
     
  • Russell 2000

    2,248.07
    -10.97 (-0.49%)
     
  • Crude Oil

    73.95
    +0.65 (+0.89%)
     
  • Gold

    1,750.60
    +0.80 (+0.05%)
     
  • Silver

    22.37
    -0.27 (-1.20%)
     
  • EUR/USD

    1.1718
    -0.0029 (-0.25%)
     
  • 10-Yr Bond

    1.4600
    +0.0500 (+3.55%)
     
  • GBP/USD

    1.3681
    -0.0040 (-0.29%)
     
  • USD/JPY

    110.6850
    +0.3840 (+0.35%)
     
  • BTC-USD

    43,194.98
    +805.36 (+1.90%)
     
  • CMC Crypto 200

    1,067.20
    -35.86 (-3.25%)
     
  • FTSE 100

    7,051.48
    -26.87 (-0.38%)
     
  • Nikkei 225

    30,248.81
    +609.41 (+2.06%)
     

Central Garden & Pet (CENT) Inks Partnership With Profitero

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

With consumers’ rising inclination toward digital transactions, companies are adopting prudent strategies to boost online visibility. Progressing along such lines, Central Garden & Pet Company CENT announced its collaboration with the leading e-commerce platform — Profitero, Inc.

Prudent Efforts to Boost E-commerce Business

The new global partnership with Profitero will enable Central Garden & Pet with a full view of its e-commerce business across eight retail partners. The company will be able to utilize Profitero’s digital shelf analytics and share data capabilities to augment its online strategy. This is likely to help strengthen digital supply chain and product content, thereby optimizing retail media campaigns. Moreover, the partnership will expand basket size and drive attachment rates within the digital channel.

Central Garden & Pet prides in having a strong e-commerce presence in its leading categories of garden supplies and pets. This has created exciting opportunities for the company to expand its business and widen consumer reach.

In fact, online shopping trends are here to stay, even post pandemic. To unlock the full potential of such digital drive, it has become vital to optimize brand presence across retail platforms. That said, Central Garden & Pet’s move to partner with Profitero for expanding e-commerce visibility is an appropriate move. The collaboration is likely to enhance the company’s competitive positioning in the digital realm alongside providing access to the right tools, data and actionable insights to expand the online business channel.

Wrapping Up

In addition to advancing digital capabilities, this Zacks Rank #1 (Strong Buy) company is also adhering to acquisitions, developing new products, optimizing supply chain and marketing activities to boost growth in the gardening and pet supplies business categories. Speaking of acquisitions it has concluded more than 50 acquisitions since 1992. In recent developments, the company concluded the buyout of Green Garden Products, a provider of vegetables, seed starters, herb and flower seed packets as well as plant nutrients. Earlier, it closed the buyout of Hopewell Nursery, which is a key live goods grower that caters to retail nurseries, landscape contractors, wholesalers and garden centers in the Northeast. Central Garden & Pet also bought DoMyOwn.com (DoMyOwn) — a fast-growing online retailer of professional-grade control products in the United States.

Such well-chalked moves are likely to solidify the company’s position in the pet supplies as well as lawn and garden products space. Markedly, shares of the company have gained 33.2% in the past three months against the industry’s decline of 11.3%.

Check These Stocks

Chewy Inc. CHWY, which carries a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 20%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Tractor Supply Company TSCO, with a Zacks Rank #2, has a long-term earnings growth rate of 9%.

Rent-A-Center, Inc. RCII, which carries a Zacks Rank #2, has a trailing four-quarter earnings surprise of 12.2%, on average.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

RentACenter, Inc. (RCII) : Free Stock Analysis Report

Central Garden & Pet Company (CENT) : Free Stock Analysis Report

Tractor Supply Company (TSCO) : Free Stock Analysis Report

Chewy Inc. (CHWY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research