Last $70.87 USD
Change Today +0.51 / 0.72%
Volume 510.0K
PETM On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).

petsmart inc (PETM) Key Developments

PetSmart, Inc. Announces the Availability of Halloween Costumes for Dogs and Cats

PetSmart, Inc. announced the availability of Halloween costumes for dogs and cats. PetSmart's exclusive Halloween product lines include: Scary stylish costumes, apparel and accessories from Martha Stewart Pets, including a posh pumpkin pet bed and devilishly divine monster costumes; Disney costumes straight from the Hundred Acre Wood with Winnie the Pooh and the gang or Muppet stars Kermit and Miss Piggy; and Costumes from DC Comics & Marvel that unleash the pets' superhero powers. It also includes: LED harnesses, leashes and collars that light up the night and help keep the pet safe while out trick-or-treating with the family; Ghoulish goodies such as BLUE Buffalo Boo Stews, BLUE Buffalo Boo Bars, Grreat Choice cookies, Zuke's "Zooook's" treats and Canine GREENIES Dental Chews that are safe treats the pet can enjoy; and Top Fin aquariums and accessories that offer a scary cute sanctuary for pets that swim.

PetSmart, Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2014 ; Provides Earnings Guidance for the Third Quarter and Full Year of 2014; Expects to Open Approximately 20 Micro Stores in the Second Half of 2014

PetSmart, Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $1,729,939,000, operating income of $162,952,000, income before income tax expense and equity income from banfield of $150,062,000, net income of $98,116,000 or $0.98 per diluted share compared to the net sales of $1,705,997,000, operating income of $156,550,000, income before income tax expense and equity income from banfield of $143,722,000, net income of $93,368,000 or $0.89 per diluted share for the same quarter a year ago. The company generated $92 million in cash flows from operating activities during the quarter. The company spent $36 million on capital expenditures during the second quarter. For the six months period, the company reported net sales of $3,459,071,000, operating income of $334,710,000, income before income tax expense and equity income from banfield of $308,637,000, net income of $201,882,000 or $2.02 per diluted share compared to the net sales of $3,416,593,000, operating income of $324,068,000, income before income tax expense and equity income from banfield of $298,072,000, net income of $195,783,000 or $1.87 per diluted share for the same period a year ago. Based on the company's year-to-date results and outlook for the remainder of the year in light of the consumer environment and competitive market, the Company affirmed its fiscal year 2014 outlook. This guidance does not include the impact of the Pet360 acquisition or the benefits or costs associated with the cost improvement initiatives outlined above. For the year 2014, the company expected comparable store sales relatively flat, net sales growth in the low-single digits, earnings per share between $4.29 to $4.39 and operating cash flow between $600 to $625 million. The anticipated tax rate is around 38%. For the third quarter of 2014, the company expected comparable store sales growth flat to slightly down and earnings per share of $0.93 to $0.97. The tax rate for the third quarter is expected to be around 38%. The third quarter and full year guidance excludes the impact of the Pet360 acquisition. The guidance excludes the impact of the Pet360 acquisition. The company currently planning to open approximately 20 micro stores in the second half of this 2014.

PetSmart Explores Strategic Alternatives

PetSmart, Inc. (NasdaqGS:PETM) announced on August 19, 2014 that based on a thorough business review that began last spring, the Board of Directors has determined that it will explore strategic alternatives for PetSmart to maximize value for shareholders, including a possible sale of PetSmart. Gregory P. Josefowicz, Chairman, said, “Notwithstanding our confidence in the Company’s future prospects, following a detailed Board review of the Company over the last several months, including many constructive conversations with a wide range of shareholders, we have decided to explore options to maximize shareholder value, including a potential sale of the Company.” “Whatever the outcome of the process, we are as committed as ever to continuing to meet the needs of our customers and their pets, attracting and retaining world class talent, and driving sales and margins,” said Josefowicz, “We are not providing a timetable for our process, nor do we intend to comment further or update the market until it is complete.” The Board has been working with JP Morgan Securities LLC and Wachtell, Lipton, Rosen & Katz to assist in the process.

Petsmart Putting It Self For Sale

PetSmart, Inc. (NasdaqGS:PETM) puts itself up for sale. Gregory P. Josefowicz, Chairman, said, “Notwithstanding our confidence in Petsmart future prospects, following a detailed Board review of the Company over the last several months, including many constructive conversations with a wide range of shareholders, we have decided to explore options to maximize shareholder value, including a potential sale of Petsmart.” “Whatever the outcome of the process, we are as committed as ever to continuing to meet the needs of our customers and their pets, attracting and retaining world class talent, and driving sales and margins,” said Josefowicz, “We are not providing a timetable for our process, nor do we intend to comment further or update the market until it is complete.” The Board has been working with JP Morgan Securities LLC and Wachtell, Lipton, Rosen & Katz to assist in the process.

PetSmart, Inc. to Report Q2, 2015 Results on Aug 20, 2014

PetSmart, Inc. announced that they will report Q2, 2015 results on Aug 20, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
PETM:US $70.87 USD +0.51

PETM Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Costco Wholesale Corp $126.43 USD +0.72
Mattress Firm Holding Corp $62.48 USD +0.10
View Industry Companies
 

Industry Analysis

PETM

Industry Average

Valuation PETM Industry Range
Price/Earnings 16.8x
Price/Sales 1.0x
Price/Book 6.0x
Price/Cash Flow 16.4x
TEV/Sales 0.9x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact PETSMART INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.