Pandemic pets are a ‘furry annuity,’ says Petco CEO

NEW YORK (AP) — It’s a good time to oversee a company that sells leashes and squeaky toys. Nearly 13 million families got a pet during the pandemic last year, according to the American Pet Products Association, helping boost sales at Petco and other retailers that sell pet supplies. In a recent interview with The Associated Press, Petco CEO Ron Coughlin calls those pandemic pets a “furry annuity,” since he expects pet parents to come into Petco stores for years to groom their dogs, visit a vet or buy a new collar. Coughlin also says he expects a shortage of pet food to end by late summer.