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PetSmart (NASDAQ: PETM) reported a drop in its fourth-quarter profit.

PetSmart's quarterly profit declined to $131.5 million, or $1.28 per share, versus a year-ago profit of $134.0 million, or $1.24 per share.

Its revenue slipped to $1.80 billion versus $1.88 billion. However, analysts were estimating earnings of $1.21 per share on revenue of $1.82 billion.

PetSmart projects current-quarter earnings of $0.99 to $1.03 per share.

PetSmart shares gained 1.26% to $68.50 in pre-market trading.

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