Petsmart Inc. (PETM) reported net income for the third quarter of $38.07 million or $0.31 per share, compared to $35.82 million or $0.28 per share in the year-ago quarter.
Net sales for the third quarter increased 3.5% to $1.29 billion from $1.25 billion in the third quarter of 2008.
Comparable store sales or sales in stores open at least a year grew 0.3% in the third quarter. Pet services sales were $136.7 million, up 8.0 percent from the third quarter of last year.
On average, analysts polled by Thomson Reuters expected the company to earn $0.28 per share, on revenues of $1.28 billion for the quarter. Analysts estimates typically exclude special items.
Looking ahead for the fourth quarter, the company expects earnings between $0.52 and $0.56 per share and comparable store sales of flat to low single digits.
Analysts currently expect earnings of $0.55 per share for the fourth quarter.
For the full year, the company now expects earnings between $1.50 and $1.54 per share. Earlier, the company had expected earnings in the range of $1.43 - $1.51 per share.
Analysts currently expect earnings of $1.50 per share for the full year.
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