November 24, 2013

Pet supplies retailer PetSmart’s profits up in Q3

Pet supplies retailer PetSmart reported increased profit for the third quarter, compared to the corresponding period a year ago.

By admin-demo

Net income increased to $92.22m from $82.32m in the third quarter of 2012. Total sales increased 4% to $1.7bn from $1.63bn.

Third-quarter comparable store sales, or sales in stores open at least a year, grew 2.7%, including comparable transactions growth of 0.2%.

Merchandise sales grew 4% to $1.50bn and Services sales rose 5.2% to $184.2m.

PetSmart chief executive officer David Lenhardt said, "Given the challenged consumer environment during the quarter, we are pleased with our results and level of execution. Our performance demonstrates the strength and stability of our business."

PetSmart is a specialty retailer of pet products, based in the US. The company’s product offerings include a comprehensive range of pet supplies for dogs, cats, birds, wild birds, fish, reptiles and small pets.

It offers pet food, treats, litter, collars, flea and tick shampoo, biscuits, bowls and feeders, carriers, filters, health care products, pet grooming and beauty products, toys, apparels and pet beds. In addition, it provides services such as pet training, grooming, boarding and adoption.

The company operates 1,314 pet stores in the United States, Canada and Puerto Rico, and over 196 in-store PetSmart® PetsHotel® dog and cat boarding facilities.