Looking to 2017 and beyond, Blue Buffalo CEO Billy Bishop sees opportunities for growth in e-commerce, veterinary formulas and international markets, he said during Blue Buffalo’s fourth quarter earnings call on February 28.
“Today, in the sea of legacy brands, losing their relevance with consumers, Blue has become the new mainstream brand...” said Bishop. “With that said we still have only a six percent share in the US and feed less than three percent of pets.”
Bishop provided details on how the pet food company increased both net sales and income by double-digits in 2016. In 2016, Blue Buffalo’s net sales increased by US$1.15 billion, an increase of 11.9 percent over 2015. Adjusted net income hit US$157 million, up 28 percent from last year.
The company’s annual goal is to grow revenues by at least 10 percent with earnings-per-share increasing at least 20 percent. For the full year 2017, Blue expects to deliver net sales between US$1.24 billion and US$1.27 billion.
