PetSmart Shares Trending Higher On Updated Guidance

Shares of PetSmart Inc. PETM are trending higher on Monday following updated preliminary financial results.

For the fourth quarter, the company announced that comparable store sales increased 2.6 percent, while comparable transactions increased 0.6 percent.

In addition, the company offered fourth quarter EPS guidance, “PetSmart expects to meet or exceed previously issued guidance for the quarter of between $1.34 and $1.38 per share on a non-GAAP adjusted diluted earnings per share basis.

Following the announcement, shares of PetSmart gained roughly 1 percent in pre-market trading, but have cooled off since, now unchanged early Monday.