Pet supplies retailer PetSmart Inc (PETM), Wednesday reported first-quarter net income of $102.4 million or $0.98 per share, compared to $94.7 million or $0.85 per share in the comparable quarter last year. On average, 25 analysts polled by Thomson Reuters expected earnings of $0.96 per share for the quarter. Analysts' estimates typically exclude special items.
PetSmart's total sales grew 5.0 percent to $1.71 billion from $1.63 billion last year, while 22 analysts estimated revenues of $1.72 billion for the quarter.
The increase in net sales was partially impacted by $2 million in unfavorable foreign currency fluctuations.
Comparable store sales, or sales in stores open at least a year, grew 3.5 percent, benefitting from comparable transactions growth of 0.8 percent.
Looking forward to the second quarter of 2013, PetSmart expects earnings of $0.82 to $0.86 per share and comparable store sales growth of 3 to 4 percent. Analysts currently estimate earnings of $0.85 per share for the quarter.
For full year 2013, the company raised its earnings guidance to $3.82 per share to $3.94 per share from its previous range of $3.76 per share to $3.92 per share. The company anticipates total sales growth of 3 to 4 percent. Analysts now estimate earnings of $3.91 per share for the year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.