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.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.