Welcome to our dedicated page for Dogness International news (Ticker: DOGZ), a resource for investors and traders seeking the latest updates and insights on Dogness International stock.
Dogness (International) Corporation develops and manufactures Dogness-branded, OEM and private label pet products, including smart, hygiene, health and wellness, leash, collar and harness products for cats and dogs. Company news centers on fiscal and interim financial results, demand by product category and market, tariff and trade-policy effects, cost management, and R&D tied to intelligent pet products.
Recurring updates also include annual shareholder meeting notices, proxy-related matters, capital-structure disclosures, and technology-oriented petcare initiatives. Dogness describes a vertically integrated supply chain, research capabilities, and a portfolio of more than 200 patents and patents pending, with products sold through global chain stores and distributors.
On June 23, 2021, Dogness (International) Corporation (NASDAQ: DOGZ) announced a significant order for its Smart CAM Treaters from a major U.S. retailer with nearly 600 locations, valued at approximately $1 million. This order is indicative of the strong demand for Dogness's innovative pet-tech products and reflects the company's sales momentum. The Smart CAM Treaters allow pet owners to interact with their pets remotely, enhancing care options as society reopens. Dogness emphasizes its capacity to meet higher order volumes through robust production and supply chain management.
Argus Research has updated its coverage on Dogness (International) Corporation (NasdaqGM: DOGZ), highlighting the company's return to profitability in the first half of fiscal 2021. This turnaround is attributed to increased demand for pet products during the COVID-19 pandemic and a 7% revenue growth, with smart pet product sales surging by 60%. Dogness now has $2.3 million in cash and raised $7.4 million in January 2021. Analysts project a fair value of $6.00 per share, noting current trading at a steep discount to industry averages.
Dogness (International) Corporation (NASDAQ: DOGZ) announced the delivery of over 3,000 programmable automatic dog and cat feeders in June 2021, with an additional 1,000 units expected shortly. This marks the product's entry into all of Petco's 1,600 retail locations and online. CEO Silong Chen praised the team for managing global supply chain challenges and meeting large-scale orders. Dogness emphasizes its commitment to fulfilling customer demand while ensuring product availability for growth.
Dogness (International) Corporation (NASDAQ: DOGZ) announced that Costco will feature its smart pet products in new stores in Little Rock, AR, and Moore, OK, starting next month. A larger rollout is planned for October in preparation for the holiday season. Featured products include the Smart Treat Dispenser, Smart Water Fountain Plus, and Smart Cam iPet Robot. CEO Silong Chen expressed excitement over the partnership, which aims to boost brand awareness and sales.
Dogness reported a 6.7% year-over-year revenue increase to $12.2 million, driven by a 60.3% surge in smart pet product sales. U.S. sales rose 41.7%, while China saw a 4.8% increase. Gross margin improved to 39.1%, with comprehensive income reaching $5.0 million compared to a $1.2 million loss the previous year. EPS rose to $0.03, up from a loss of $0.01. The company expands its distribution networks, including agreements with major retailers like Petco, Costco, and Chewy. Continuous product innovation is expected to further boost profitability.
Dogness (International) Corporation (NASDAQ: DOGZ) announced a significant follow-on order from Petco for its 6L programmable automatic dog/cat feeders, expanding sales across Petco's 1,600 retail locations. This follows a January 2021 order of over 4,000 units for the 2L feeders. Chairman Silong Chen highlighted the increasing demand for smart pet health solutions among pet owners. The feeder features include customizable feeding schedules, portion control, and a patented anti-jamming mechanism, positioning Dogness as a leader in pet-tech products.
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Dogness (International) Corporation (NASDAQ: DOGZ) reported a remarkable 24-fold increase in its e-commerce sales in China for 2020, primarily driven by its expanded line of smart pet products. The company's online sales surged approximately 2,400%, significantly outperforming the 2% overall growth in China's urban pet market. CEO Silong Chen highlighted their commitment to research and development, introducing innovative products like the Dogness Smart GPS Pet Tracker. To support ongoing growth, Dogness plans to enhance production and logistics automation while optimizing order fulfillment capabilities.
Dogness (International) Corporation (NASDAQ: DOGZ) announced its Annual Meeting of Shareholders scheduled for May 18, 2021, at 9:00 a.m. China Time (9:00 p.m. Eastern Time on May 17, 2021). Shareholders on record as of the close of business on April 9, 2021 are eligible to vote. The meeting will take place at Conference Room 1A, Dongguan, Guangdong, China, with online access available. Further details and meeting materials will be accessible on the Company's investor relations website.
Dogness (International) Corporation (NASDAQ: DOGZ) has launched its innovative Smart GPS Pet Tracker, promising real-time tracking with pinpoint accuracy. The device features a built-in 4G SIM card, wireless charging capabilities, and a robust battery lasting over a week per charge. Set to be available in Q2 2021, the tracker provides pet parents with activity management tools and alerts for pet movements outside a user-defined area. Dogness emphasizes its commitment to innovation and safety in pet care with this product.