PetSmart, Inc. Declares Quarterly Cash Dividend, Payable on May 16, 2014
Mar 20 14
PetSmart, Inc. declared a quarterly common stock cash dividend of 19.5 cents ($0.195) per share. The dividend is payable May 16, 2014 to stockholders of record at the close of business on May 2, 2014.
PetSmart Seeks Acquisitions
Mar 12 14
PetSmart, Inc. (NasdaqGS:PETM) seeks acquisitions. "Yes, overall acquisitions are something that we look at as part of our normal strategic process. We evaluate them. You are right, we generate a lot of cash. And our role is to put that cash to the best use that we know how. And acquisitions absolutely could be a part of that. It is something that we evaluate on an ongoing basis," said Dave Lenhardt, PetSmart, Inc., Chief Executive Officer.
PetSmart, Inc. Presents at 2014 RBC Capital Markets Consumer and Retail Conference, Mar-13-2014 10:00 AM
Mar 6 14
PetSmart, Inc. Presents at 2014 RBC Capital Markets Consumer and Retail Conference, Mar-13-2014 10:00 AM. Venue: Ritz-Carlton, Boston, Massachusetts, United States. Speakers: Carrie W. Teffner, Chief Financial Officer, Senior Vice President and Member of Disclosure & Ethics Committee, David K. Lenhardt, Chief Executive Officer, Director and Member of Disclosure & Ethics Committee.
PetSmart, Inc. Announces Consolidated Unaudited Earnings Results for Fourth Quarter and Full Year Ended Feb. 28, 2014; Provides Earnings Guidance for First Quarter and Full Year 2014; Expects to Open 70 Net New Stores in 2014
Mar 5 14
PetSmart, Inc. announced consolidated unaudited earnings results for fourth quarter and full year ended Feb. 28, 2014. For the quarter, the company reported net sales of $1,804,866,000, operating income of $216,581,000, income before income tax expense and equity income from banfield of $203,728,000, net income of $131,516,000 or $1.28 per diluted share, compared to the net sales of $1,879,166,000, operating income of $221,252,000, income before income tax expense and equity income from banfield of $207,977,000, net income of $134,010,000 or $1.24 per diluted share, for the same quarter a year ago.
For the year, the company reported net sales of $6,916,627,000, operating income of $693,318,000, income before income tax expense and equity income from banfield of $641,539,000, net income of $419,520,000 or $4.02 per diluted share, compared to the net sales of $6,758,237,000, operating income of $651,217,000, income before income tax expense and equity income from banfield of $596,888,000, net income of $389,529,000 or $3.55 per diluted share, for the previous year. From a cash flow perspective, the company generated $615 million in cash flows from operating activities during the year and spent $147 million on capital expenditures.
The company provides earnings guidance for first quarter and full year 2014. For the first quarter The company expects comparable store sales growth of low-single digits. Earnings per share between $0.99 to $1.03. The tax rate for the quarter is expected to be around 38%.
For the year the company expects comparable store sales growth of 2% to 4%, net sales growth of 4% to 6%, earnings per share between $4.42 to $4.54, capital expenditures of $150 million to $160 million. The company anticipates the tax rate to be around 39%. Operating cash flow is expected to be between $625 million and $650 million.
The company expects to open 70 net new stores, which includes approximately 50 of standard prototypes and 20 micro stores and 3 PetsHotels in 2014.
PetSmart Introduces Grooming Options to Express Your Dog's Personality
Mar 3 14
PetSmart, Inc. announced the new Pet Expressions -- including chalking, stenciling and feathering -- provide safe, creative ways to show off dogs' personalities and coordinate seasonal looks with temporary fur color accents and accessories. The three core services of Pet Expressions build on the popularity of human-inspired trends. Everyone from celebrities to kids' classmates has been spotted with decorative feathers or streaks of color in his or her hair. Chalking: This colorful, non-toxic product has a composition similar to sidewalk chalk that can be easily washed out of a dog's fur. Available in a variety of hues, a typical application will last from one to six days and is best for dogs with longer fur. Prices range from $2 for a streak and $6-15 for custom ears, tails or other areas. Stenciling: This pet-safe, temporary color is sprayed onto shorter fur in fun shapes such as stars, hearts and paw prints that will change with seasonal trends. They are easily removed with soap and water. Prices are $4 for one stencil, $6 for two and $8 for three. Feathers: Similar to a human's hair extension, these ethically sourced feathers are handmade into designs in the U.S. and affixed into dogs' fur to withstand brushing or bathing. Prices are $10 for one feather and $18 for two.