The Globe and Mail reports in its Saturday edition that you can add pet owners to the list of consumers who have recoiled from inflation and an unstable job market, challenging the notion that we'll do anything for our furry friends. The Globe's David Berman writes that Pet Valu Holdings has slumped 56 per cent since last August, including a 14-per-cent nosedive on Tuesday after the company reported disappointing quarterlies. The share price fell to a five-year intraday low of $16.58 early last week, well below the debut price of $20 in 2021. Bargain-hunters might find a lot to like here. At its low point this week, the stock traded at a little more than 10 times estimated earnings from analysts. Pet Valu also commands a large network of more than 860 corporate-owned and franchised stores. Size gives the company significant competitive advantages. And it is likely to improve. The company completed its national distribution network last year with a new facility in Calgary. If the case for grocery chains and convenience stores has rested on a massive footprint, then Pet Valu is following a similar business model. But unlike the big grocers, Pet Valu's performace suggests that cat and dog owners are price sensitive.