Pet Industry: Chewy, Mars, Purina and Retail Results — 2026-09-26
Cat-owner spending is emerging as this week's key industry theme, with Chewy's CEO among those flagging a cat-vs-dog split in consumer behavior. Retailers closed the week with fresh market data showing private label outgrowing national brands, German chain Fressnapf posting strong Q2 growth, and pet food market forecasts pointing to steady global expansion. Nestlé Purina's recent capacity investments continue to frame the manufacturing-growth debate.
Pet Industry: Chewy, Mars, Purina and Retail Results — 2026-09-26
Top developments
Cat owners are spending more as dog demand softens
CNBC reported on September 24 that spending on cats remains strong despite a softening dog sector and tightening consumer discretionary budgets. 24/7 Wall St. echoed the split on the same day, noting that three pet industry CEOs — including Chewy's — have all flagged the same unexpected cat-vs-dog consumer split that is reshaping where billions in annual pet spending land. For quarterly results, this favors retailers with strong cat assortments and Autoship staples over discretionary dog categories.
Chewy beats on profit even as pet spending stays soft
Chewy's fiscal Q2 (reported September 9) showed net sales of $3.33 billion, up 7.3% year over year, with adjusted EPS of $0.36 — nearly double the roughly $0.18 analysts expected — and a raised full-year revenue and profitability outlook. The company also said it is outperforming the broader pet category by 2-3 times and gaining share on the strength of active customer growth, higher spending per customer, and Autoship. The yahoofinance piece frames the beat against a backdrop of overall soft category spending, relevant for Q3 momentum.
Private label pet care growth outpaces national brands
PetfoodIndustry reported this week (September 25) that private-label sales in pet food and care are rising faster than national brands — even in premium segments — signaling a trade-down and margin-mix shift that directly affects retailers like Chewy, Petco and Fressnapf with strong own-brand programs.
Fressnapf/Maxi Zoo grows 7.1% in Q2, keeps expanding store network
German trade media reported that Fressnapf | Maxi Zoo posted Q2 2026 revenue of €930 million, up 7.1% year over year, with H1 group revenue of €1.9 billion (+6.9%). It opened 53 stores in the period, cites a strong cat segment, and says it is gaining share in Germany, France and Italy — with higher EBITDA. German-language outlets note online business figures remain undisclosed.
Chewy vs. Petco: Goldman Sachs stage comparison
On September 14, Chewy and Petco shared the Goldman Sachs retail conference stage with similar messages from very different starting points — Chewy arguing it has outgrown the "online pet retailer" label, Petco continuing its turnaround. The yahoofinance comparison is a useful lens for investors weighing proven growth (CHWY) against a turnaround bet (WOOF).
Local view
German pet-industry and retail trade press focused heavily on Fressnapf this week. diyonline.de and onlinemarktplatz.de both reported the €930M Q2 figure and noted management withheld e-commerce specifics; retail-news.de highlighted Like-for-Like growth and the strong Katzensegment (cat segment) driving gains in Germany, France and Italy.
Context & numbers
- Global pet food market projected to grow from $141.0 billion in 2026 to $263.8 billion by 2036 (6.5% CAGR); China leads country growth at 8.2%, Germany follows at 6.3% (OpenPR, September 24).()
Pet food market growth chart - Dog food market forecast to rise from $94.30 billion in 2025 to $156.20 billion by 2033 (6.5% CAGR), with the category splitting between dry staples and premium formats (OpenPR, September 23).()
- Earlier this month, Nestlé Purina opened a $550 million factory in Batavia, Ohio — the first new U.S. plant of its kind — and Purina capacity was in focus at the Barclays conference; Mars has committed $2 billion to U.S. pet food manufacturing expansion through 2026.
On the radar
- Cat-vs-dog spending split: watch whether Q3 retailer commentary (Chewy, Petco, Fressnapf) confirms cats as the resilient category heading into the holiday season.
- Private label momentum: further data on own-brand share gains at Chewy and European chains could pressure national brand pricing.
- Nestlé investor commentary as Purina growth and capacity questions continue post-Barclays conference.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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