PetSmart Ticks Lower on Q3 Earnings Release
November 16, 2011 5:28 PM
Shares of PetSmart (NASDAQ: PETM) are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 0.82%, trading at $47.27; they ended the regular session lower by 1.83%, at $47.66.
PetSmart reported Q3 EPS of $0.50 on revenues of $1.5 billion; the Street was looking for $0.48 per share on revenues of $1.5 billion. Revenues increased 7.9% year over year. Comparable store sales grew 6.1%, benefiting from comparable transactions growth of 2.2%.
"The favorable momentum that we experienced during the quarter validates the work that we are doing, and continues to move us forward on our journey to becoming a best-in-class specialty retailer," said Bob Moran, President and Chief Executive Officer.
The company sees Q4 EPS in the range of $0.85-0.89, which comp store sales growth in the low to mid-single digit range. The Street was at $0.89 per share.
PetSmart, Inc. is a specialty provider of products, services and solutions for the lifetime needs of pets. The company offers product assortment with pet services, including grooming, training, boarding and day camp.
