Pet food brands have been under fire for a number of years over their marketing practices and lack of transparency.
In 2016, the company lost $30 million after a study found it mislabeled some of its pet food.
The company’s stock has since declined, but it has been able to recover.
Pet food companies like Pet Food Express, and a number others, are also being sued for misrepresentation of ingredients and labeling of ingredients that can lead to health risks.
In the first quarter of 2018, Pet Food Exchanges (PFI) reported sales of $17.2 billion, according to its quarterly financial statements.
This figure includes $6.4 billion in revenue from retail sales and $5.7 billion in profit from branded sales.
In 2018, the pet food market is estimated to be worth $1.9 trillion, according the Pet Food Industry Association.
Pet Food Express had $3.7 trillion in revenues in 2018, according a recent report from The Wall Street Journal.
The company, which is owned by the Chinese conglomerate Dalian Wanda Group, has seen its market share in the petfood market slide over the past few years.
In 2019, PetFoodExchange was down 21% year-over-year, according with market research firm Euromonitor.
In 2020, PetfoodExchange lost more than 1,500% in revenue, according Euromonitors.
In 2021, the Chinese giant said it plans to close PetFood Exchanges stores in the United States and other countries.
PetFoodExchanges stock has been trading around $8.40 since the beginning of 2018.
The Wall Street Street Journal reported that the company is currently in discussions with several major U.S. food companies to acquire its assets.
PetfoodExchanges shares have fallen in value since the start of 2018 as the company’s share price has fallen by roughly 50%.