UPDATE: PetSmart Posts Upbeat Q4 Earnings

PetSmart

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.