Accessibility StatementSkip Navigation NEW YORK, Oct. 21, 2025 /PRNewswire/ -- Board of DirectorsBARK, Inc.120 Broadway, Floor 12New York, New York 10271 Dear Members of the Board of Directors, As one of the largest shareholders in BARK, Inc.(NYSE: BARK), I write to you today with an unwavering commitment to the long-term success of our company and a profound sense of urgency regarding the strategic path forward. As strong believers in the transformative power of your brand to revolutionize the dog care ind ...

Core Insights - Chewy Inc. (CHWY) is a leading online pet retailer with a trailing 12-month price-to-sales (P/S) multiple of 1.33X, significantly lower than the industry average of 2.69X, raising questions about its investment potential [1] - The company has seen an 8.9% increase in stock price over the past month, outperforming the industry decline of 2.4% [2] - Chewy's Q2 net sales reached $3.1 billion, an 8.6% year-over-year growth, driven by strong performance in its Autoship program [7][8] Valuation and Performance - CHWY's trailing 12-month P/S ratio is favorable compared to competitors like Central Garden & Pet Company (0.61), Petco Health and Wellness Company (0.18), and BARK, Inc. (0.28) [1] - The company has outperformed its competitors, with Central Garden and BARK shares declining by 15.9% and 9.3%, respectively, while Petco Health gained 4.7% [3] Sales and Growth Drivers - Autoship sales hit a record $2.58 billion, accounting for 83% of total quarterly revenues, with a year-over-year growth of 14.9% [9] - The active customer base grew to 20.9 million, a 4.5% increase year-over-year, with net sales per active customer rising by 4.6% [10] - Chewy's gross margin improved by 90 basis points to 30.4%, and adjusted EBITDA grew by 34.8%, indicating effective cost management [10] Strategic Initiatives - The Chewy Vet Care network plans to open 8-10 practices in fiscal 2025, enhancing service offerings [11] - The Chewy+ membership program is contributing approximately 3% of monthly sales, indicating higher customer engagement [11] - The launch of the new private brand of fresh dog food, Get Real, has received positive customer feedback [12] Future Outlook - For fiscal 2025, Chewy raised its net sales outlook to $12.5-$12.6 billion, reflecting a 7-8% adjusted year-over-year growth [13] - The company anticipates a 5.4-5.7% adjusted EBITDA margin for the full year, with expected margin improvements driven by gross margin gains [14] - Chewy maintains a strong balance sheet and a debt-free position, positioning itself for sustainable long-term value [15] Earnings Estimates - The Zacks Consensus Estimate for EPS has seen upward revisions, with current estimates for the fiscal year increasing to $1.27 and $1.53 for the next fiscal year [17] Challenges and Competitive Landscape - Management expects margin expansion to moderate in the latter half of fiscal 2025 due to reinvestments in strategic programs [19] - Rising operating costs and fulfillment inefficiencies have constrained Chewy's leverage potential, with SG&A expenses rising to 19.1% of net sales [20] - Competitive intensity remains high, prompting Chewy to sustain advertising and marketing spend at $200.6 million, or 6.5% of sales [22]

Core Insights - Ultrack Systems Inc. through its subsidiary Better Pets is launching the Better Pets Pet Balm, the first Health Canada-approved product, marking the start of a rebranded pet wellness line [3][4][10] - The product line includes four formulations, with plans for additional products under development [3][7] - The company aims to build brand trust and momentum by offering safe, effective, and natural products to pet owners [5][10] Product Launch Strategy - The Better Pets Pet Balm will initially be available online, followed by distribution to major retail partners across Canada [4][12] - A phased market-entry strategy is being employed, starting with the online launch and scaling into retail through distributors [12] - The company is focusing on low-cost, counter-top sales programs to enhance brand awareness [4][12] Branding and Marketing - The rebranding and packaging for the Better Pets line are being developed by Empire Media Worx Inc., which will also enhance the e-commerce capabilities of the Better Pets website [7] - The updated platform will feature educational content and testimonials to build consumer trust [7] Strategic Partnerships - Better Pets is in advanced discussions with major Canadian distributors and retail networks to complement its direct-to-consumer strategy [8][12] - These partnerships are expected to enhance both retail penetration and digital market growth [8] Industry Context - The global pet care market surpassed $270 billion in 2024 and is projected to grow at over 6% CAGR through 2030 [13] - Natural and wellness-focused products are among the fastest-growing categories, driven by millennial and Gen Z pet owners [13] - In Canada, the pet population exceeds 16 million dogs and cats, with increasing consumer demand for safe and natural health solutions [13]

Core Viewpoint - Minerals Technologies Inc. (MTI) is making significant capital expenditures to enhance its SIVO™ pet care business by upgrading facilities in the United States, Canada, and China to meet growing customer demand for high-quality cat litter [1][4]. Group 1: Investment Details - MTI is investing in plants located in Dyersburg, Tennessee (USA), Brantford, Ontario (Canada), and Chaoyang City, Liaoning Province (China) [2]. - The upgrades in Dyersburg and Brantford will enhance manufacturing capabilities and streamline logistics, increasing throughput and flexibility to meet customer demand [3]. - The investment in Chaoyang City will significantly expand the plant's capacity to serve a growing and diverse market [3]. Group 2: Market Context - Cat ownership is at its highest level in a decade and continues to grow, prompting MTI to upgrade its plants to expand capacity and support customer needs [4]. - SIVO™ is recognized as a global leader in private label cat litter, offering a wide range of customizable products [4]. Group 3: Strategic Goals - The investments aim to improve productivity, safety, quality, and capacity at MTI's facilities, addressing key customer requirements for research and development, packaging, and high-quality products [5]. - MTI's pet care team leverages over 35 years of experience in the cat litter industry to bring innovative products to market, enhancing the private label cat litter category [5]. Group 4: Company Overview - Minerals Technologies Inc. reported global sales of $2.1 billion in 2024 and operates in 34 countries with 4,000 employees [6].

Core Insights - Ultrack Systems Inc. has secured a Canadian federal trademark registration for its "Better Pets" brand, while advancing its U.S. trademark application [1][2][5] - The Canadian trademark provides exclusive rights for ten years, enhancing brand protection and supporting expansion efforts [2][4] - The global pet care market exceeded $270 billion in 2024, with a projected annual growth rate of over 6% [4] Trademark Protection - The Canadian trademark (Registration No. TMA1339765) is effective from August 15, 2025, and protects the brand across various sales channels [2] - Trademarks are vital in competitive markets like pet wellness, providing legal protection and brand recognition [4][7] - The trademark safeguards against product confusion and enhances brand equity, making the company more attractive to investors [7] U.S. Trademark Application - Better Pets filed a response to the USPTO regarding its U.S. trademark application on August 27, 2025, with a review expected within 1-2 months [5] - If accepted, the application will proceed to publication in the Trademark Official Gazette, a key step for full registration [5] Strategic Positioning - The company emphasizes the importance of intellectual property rights in protecting long-term value for stakeholders [6] - Future updates will include product launches and strategic plans for distribution channels [6] - The scope of goods is refined to non-medicated grooming and cosmetic care products, ensuring regulatory compliance [8]

Core Insights - Arista Advanced Pet Care has successfully launched its flagship specialty referral and 24/7 emergency hospital in Sandy Springs, GA, which opened in April 2025 [1] - The hospital has quickly established itself as a trusted resource for pet families in the metro Atlanta area [1] - The project was supported by local design firm Peacock Partnership, emphasizing the importance of collaboration in its development [1] Company Overview - Arista Advanced Pet Care focuses on providing specialized veterinary services, including emergency care, to enhance pet health and well-being [1] - The Sandy Springs hospital is strategically located off I-285, making it accessible to a wide range of pet owners in the region [1] Industry Context - The establishment of the Sandy Springs hospital reflects a growing demand for specialized pet care services in urban areas [1] - The collaboration with local firms like Peacock Partnership highlights the trend of community involvement in healthcare facility development [1]

Company Overview - uCloudlink Group Inc's consumer brand GlocalMe is launching PetPhone, an AI-powered device aimed at enhancing connectivity between pets and their owners as part of its U.S. expansion strategy [1][2] - The company anticipates that revenue from the U.S. market will double by 2025 following its re-entry into the market last year [1] Product Features - PetPhone enables pets to "call" their owners through AI recognition of actions and sounds, allowing owners to check in remotely, play calming music, or issue commands [2] - Early pilot families in the U.S. have demonstrated strong engagement with the product, indicating its practical utility [3] Market Positioning - uCloudlink has secured a strategic partnership with Chewy, becoming its exclusive PetPhone service provider, and is planning launch events in major U.S. cities [4] - The U.S. pet care industry is valued at over $140 billion, with increasing household spending on pet care as pet ownership becomes more ingrained in American lifestyles [4] Industry Trends - The U.S. market is receptive to "humanization" trends in pet care, with consumers willing to adopt technology that enhances pets' health, safety, and emotional well-being [5] Financial Performance - uCloudlink has sold 4 million Wi-Fi devices globally and supports 300,000 daily active terminals, with the U.S. previously contributing around 20% of group revenue [6] - The company reported a net profit of $10 million in 2023, with plans to reinvest much of this into new product development and U.S. marketing [7] Future Outlook - The company envisions PetPhone evolving into a platform that combines communication, entertainment, and social interaction for pets, likening it to a "pet WeChat" or "pet TikTok" [8] - Plans for optional camera and GPS features are in development, tailored to meet U.S. regulatory requirements [8] Strategic Resilience - Despite U.S.–China trade tensions, uCloudlink is confident in its ability to navigate policy challenges due to its diversified manufacturing and R&D structure [9] - The U.S. market is viewed as a core growth engine, supported by a large consumer base willing to spend on premium pet care [9][10]

Company Overview - uCloudlink Group Inc's consumer brand GlocalMe is launching PetPhone, an AI-powered device aimed at enhancing connectivity between pets and their owners as part of its U.S. expansion strategy [1][2] - The company anticipates that revenue in the U.S. will double again by 2025 following its re-entry into the market last year [1] Product Features - PetPhone allows pets to "call" their owners using AI-enabled recognition of actions and sounds, while owners can remotely check in, play calming music, or issue commands [2] - Early pilot families in the U.S. have demonstrated strong engagement with the product, indicating its practical utility [3] Market Positioning - The U.S. pet care industry is valued at over $140 billion, with increasing household spending as pet ownership becomes more ingrained in American lifestyles [4] - The U.S. market is receptive to "humanization" trends in pet care, with consumers willing to adopt technology that enhances pets' health, safety, and emotional well-being [5] Strategic Partnerships - GlocalMe has secured a strategic partnership with Chewy, becoming its exclusive PetPhone service provider within three months of negotiations [4] Financial Performance - The company previously derived around 20% of its group revenue from the U.S. before disruptions caused by legal issues and the pandemic [6] - After resolving patent disputes and re-entering the U.S. market in 2023, the company has expanded its U.S. workforce and tailored products for American consumers [7] - The company reported a net profit of $10 million in 2023, with plans to reinvest much of this into new product development and U.S. marketing [7] Growth Potential - Margins in the U.S. are attractive, with gross margins cited at 60% and limited direct competition [7] - The company aims to build a scalable business model around PetPhone, indicating strong acceptance in the U.S. market [8]

Core Insights - Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) is recognized as one of the 12 best NASDAQ penny stocks to buy according to hedge funds [1] - Jefferies has reiterated a Hold rating on Petco, maintaining a price target of $4.15 [1][3] - The company reported Q2 FY2025 revenue of $1.5 billion, which aligns with estimates and reflects a year-over-year increase of 2.3% [2] - Operating income increased significantly by $40.6 million to reach $43 million compared to the previous year [3] - Adjusted EBITDA rose by $30.3 million to $113.9 million, indicating strong operational performance [3] - The average price target for Petco is $4, suggesting an upside potential of nearly 15.61% from current levels [4] Financial Performance - Revenue for Q2 FY2025 was $1.5 billion, consistent with estimates and up 2.3% year-over-year [2] - Operating income increased to $43 million, a rise of $40.6 million from the previous year [3] - Adjusted EBITDA reached $113.9 million, up by $30.3 million, showcasing robust operational performance [3] Strategic Insights - E-commerce is becoming more profitable for Petco, with ongoing transformation efforts [2] - Inventory control is improving, balancing customer needs effectively [2]

Core Insights - Wag! Group Co. has successfully emerged from Chapter 11 bankruptcy and is now a privately held company owned by Retriever LLC, which provided financial support during the reorganization process [1][2][3] - The company aims to strengthen its financial foundation and invest in business growth while continuing to serve its customers and execute long-term strategic priorities [2][3] Company Overview - Wag! Group Co. is focused on becoming the leading platform for service, product, and wellness needs of modern U.S. pet households, having pioneered on-demand dog walking in 2015 [5] - The company operates several platforms, including Petted, Dog Food Advisor, WoofWoofTV, and maxbone, catering to various aspects of pet care and wellness [5] Financial Restructuring - The confirmed Plan of Reorganization allowed Retriever to assume ownership and provide new equity capital and exit financing, ensuring operational continuity during the bankruptcy process [2][3] - The restructuring process was completed in approximately 40 days, allowing the company to maintain business operations and customer service throughout [2][3] Future Outlook - With a stronger balance sheet, Wag! is positioned for sustainable long-term growth as a privately held business, focusing on innovation and exceptional customer experience in the pet care market [3]