PetIQ, Inc. Provides Update on Wellness Center Reopening Plan
Remains On-track for 95% of Services Segment to be Open by the End of the Third Quarter
EAGLE, Idaho, Sept. 08, 2020 (GLOBE NEWSWIRE) -- PetIQ, Inc. (“PetIQ” or the “Company”) (Nasdaq: PETQ), a leading pet medication and wellness company, today provided an update on its wellness
center and community clinic re-opening plan.
The Company has re-opened approximately 70% of its wellness centers and 60% of its community clinics. All 37 of PetIQ’s regional offices supporting the national service network are now open. PetIQ remains on-track to re-open approximately 95% of its community clinics and wellness centers by the end of the third quarter of 2020. In addition, the 27 new wellness centers under construction prior to the on-set of the pandemic continue to be expected to have grand openings in the fourth quarter of 2020. Results from recent re-openings have demonstrated a quick return in customer traffic and average ticket to pre COVID-19 rates.
“We are pleased with our team’s agility and perseverance to execute our Services segment re-opening plan in a dynamic operating environment,” commented Cord Christensen, PetIQ’s Chairman and Chief Executive Officer. “In this time of heightened uncertainty, we are finding that pet parents are seeking out solutions for affordable veterinary care at increasing rates, and PetIQ's national network of convenient and affordable clinics are a great solution to help meet their needs. Going forward, we remain well-positioned long-term to achieve our strategic and financial objectives and look forward to enhancing value for all stakeholders.”
PetIQ is a leading pet medication and wellness company delivering a smarter way for pet parents to help their pets live their best lives through convenient access to affordable veterinary products and services. The company engages with customers through more than 60,000 points of distribution across retail and e-commerce channels with its branded distributed medications, which is further supported by its own world-class medications manufacturing facility in Omaha, Nebraska. The company’s national service platform, VIP Petcare, operates in over 3,400 retail partner locations in 41 states providing cost effective and convenient veterinary wellness services. PetIQ believes that pets are an important part of the family and deserve the best products and care we can give them.