Welcome to our dedicated page for Better Choice Co news (Ticker: BTTR), a resource for investors and traders seeking the latest updates and insights on Better Choice Co stock.
The BTTR news page on Stock Titan provides an archive of news releases and corporate updates for Better Choice Company Inc., which historically traded under the BTTR ticker on the NYSE American. These news items document the company’s activities as a pet health and wellness business and its subsequent transformation through a business combination and name and ticker change.
Readers can review announcements describing Better Choice’s focus on pet health and wellness products designed to help dogs and cats live healthier, happier and longer lives. The company has highlighted its alternative, nutrition-based approach to pet health, its emphasis on the Halo brand for dog food, cat food and treats, and its efforts to align with trends in pet humanization and health and wellness. News releases also discuss transactions such as the sale of Halo’s business in Asia while retaining key North American operations and global operations outside of Asia.
A key theme in the BTTR news archive is the corporate evolution of Better Choice Company Inc. through its business combination with SRx Health Solutions, Inc. and the resulting name and ticker change to SRx Health Solutions Inc. and SRXH. News items describe the closing of this business combination, the related private placement, the spin-out distribution involving Halo Spin-Out SPV Inc., and the effective date for trading under the new SRXH symbol on the NYSE American.
Investors and researchers can use this BTTR news history to understand how Better Choice presented its pet health and wellness strategy, brand portfolio and capital markets actions leading up to and including the transition to SRx Health Solutions Inc. For current developments, company communications direct attention to the SRXH ticker, while the BTTR news archive remains a resource for historical context.
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Better Choice Company (NYSE: BTTR) announced a significant 15.6% growth in point-of-sales for its new Halo Elevate product line at Petco over the last 12 weeks, outperforming Petco's 5% year-over-year sales growth in Q4 2022. Additionally, Halo Elevate achieved 9.3% growth in the total Pet Specialty channel. The company attributes this success to its high-quality, natural ingredients and strong partnerships in the pet specialty market. Established over 30 years ago, Halo is committed to providing natural pet food without artificial additives, aiming to enhance pets' health.
Better Choice Company Inc. (NYSE American: BTTR) reported a 19% increase in net sales for 2022, totaling $54.7 million. The fourth quarter saw net sales of $9.3 million. Significant growth was noted in the International channel, which experienced 48% year-over-year growth, while Brick & Mortar sales surged 72%. However, E-commerce sales decreased by 3% and Direct to Consumer sales declined 30%. The company reported a gross margin of 28% for the year, which adjusts to 31% when excluding inventory rationalization impacts. The net loss for the year was $(39.3 million), highlighting continuing operational challenges.
Better Choice Company (NYSE: BTTR) announced that its pet food brand, Halo, was voted the 2022 Consumer’s Favorite Imported Cat Brand by the China Pet Industry White Paper. This recognition was based on a survey of over 30,000 pet owners in China, who praised Halo for its responsibly sourced ingredients and taste. Established over 30 years ago, Halo is committed to providing natural and high-quality pet food products. This award reaffirms Halo's position as a leading US pet food brand in China, reflecting its ongoing mission to deliver nutritious pet food.
Better Choice Company (NYSE: BTTR), a pet health and wellness firm, announced that it has received interest in its Halo brand pet products and is initiating a strategic alternatives review. The company is considering various options including a sale, merger, asset divestiture, or entering new revenue sectors. Interim CEO Lionel Conacher emphasized that the objective is to maximize shareholder value through this evaluation process. However, there is no guarantee that this review will lead to any transactions, and the company will provide updates only if specific deals are made.
Better Choice Company Inc. (AMEX: BTTR) announced its plans to release fourth quarter and full year 2022 financial results on Tuesday, March 28, 2023. As a pet health and wellness company, Better Choice offers a diverse range of products for dogs and cats, including foods, treats, and supplements under the Halo brand. The company emphasizes high-quality, natural ingredients and science-based nutrition. Better Choice is poised to benefit from trends in pet humanization and the increasing consumer focus on health and wellness.
Better Choice Company (NYSE American: BTTR) announced a partnership with Pet Supermarket to sell its Halo Brand pet food in over 75 retail locations starting March 2, 2023. This move aims to expand the availability of Halo's super-premium pet food, which includes the popular Halo Elevate line. With this partnership, Halo products will now be featured in more than 1,500 retail stores across the United States. The CEO of Halo, Lionel Conacher, expressed confidence that this collaboration will positively impact pet health and wellness.
Better Choice Company (NYSE: BTTR) announced a workforce reduction of approximately 25%, aiming to save an estimated $2.2 million annually. This decision includes the elimination of the COO role, which is expected to significantly decrease the company’s operational costs in 2023 and beyond. Interim CEO Lionel Conacher noted that while the long-term prospects remain strong, current market conditions are challenging. Further financial details will be disclosed during the Q4 and full year 2022 results announcement.
Better Choice Company reported Q3 2022 net sales of $11.9 million, a decrease from $13.2 million in Q3 2021. Year-to-date net sales reached $45.4 million, a 30% increase year-over-year. Gross profit margin improved to 35% in Q3 and 30% year-to-date. The company also extended its revolving credit facility to $13.5 million, removing the going concern language from its 10-Q. However, losses from operations reached $6.4 million in Q3 and $14.6 million year-to-date, signaling ongoing challenges despite growth in international sales.