- Morningstar calls the pet industry "fairly" recession-proof as consumer spending has continued to grow in a mid-single digit rate to outpace broader retail trends.
- Despite a general crowding-out effect from spending on autos and home improvements in many discretionary categories, the level of spending per pet has risen in the U.S. over the last year.
- Though retail giants such as Wal-Mart (WMT +1.2%) and Target (TGT +0.9%) are significant players in the pet industry, it's PetSmart (PETM +0.5%) that stands to benefit the most despite its alarming Q3 slip, note analysts.
Pet spending holding up in U.S.
Nov 11 2013, 12:50 ET