PetSmart Inc., Nasdaq symbol PETM, operates 1,192 pet stores in the U.S. and Canada. It also has 184 in-store PetsHotel dog and cat boarding facilities.
PetSmart is one of the stocks we analyze in Wall Street Stock Forecaster, our newsletter for U.S.A. stock market investing.
In its 2012 first quarter, which ended May 1, 2011, PetSmart’s earnings rose 27.5%, to $70.9 million from $55.6 million a year earlier. The company spent $102 million on share buybacks in the quarter. Due to fewer shares outstanding, earnings per share rose 32.6%, to $0.61 from $0.46. That easily beat the consensus earnings forecast of $0.49 a share.
Sales rose 6.8%, to $1.5 billion from $1.4 billion. Same-store sales rose 5.0%, while sales of pet services, such as grooming and PetsHotel stays, rose 9.0%. Services accounted for 11.2% of PetSmart’s overall revenue. That’s up from 11.0% in the prior year.
We updated our advice on PetSmart and other U.S.A. stock market picks in our May 20, 2011 Wall Street Stock Forecaster hotline, which you can immediately view when you take a 1-month free trial to Wall Street Stock Forecaster. Click here to get started right away.
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