Walmart launches wheat-free ultra-premium dog food

Walmart (NYSE:WMT) just announced its new ultra-premium dog food called Pure Balance.

Citing the faster growth rate of ultra-premium dry dog food than the value category, the company believes this product will complement the Ol' Roy brand nicely. Reuters reports that this move puts Walmart "into more direct competition" with specialty chains PetSmart (NASDAQ:PETM) and Petco (a private company).

By launching a trendy, wheat-free brand, we think this does indeed align with spending patterns exhibited by dog owners in the U.S., as outlined in our pet industry research published earlier this year.

Source: "Walmart U.S. launches its own high-end dog food," by Jessica Wohl, Reuters, Aug 14, 2012