Is Economy Causing America to Curb Its Pets' Prescriptions?

When the credit cards are maxed out and the bank's threatening to take your house, it's a little harder to sympathize with Fido's exotic skin condition -- the one that requires filling expensive prescriptions.PetMed, a pet pharmacy based in Pompano, today reported an 11 percent drop in profits from the...

By Thomas Francis

July 19, 2010

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When the credit cards are maxed out and the bank's threatening to take your house, it's a little harder to sympathize with Fido's exotic skin condition -- the one that requires filling expensive prescriptions.

PetMed, a pet pharmacy based in Pompano, today reported an 11 percent drop in profits from the first quarter, earning the dubious distinction of being one the Street Authority's "Monday Losers." The company's CEO blamed it on consumers being wary of prices and "reducing their usage."

Translation: The economy has capsized, and there's no room in the lifeboat for pets.

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