PetSmart Announces an 18% Increase to Its Quarterly Dividend and a New $535 Million Share Purchase Authorization

  PetSmart Announces an 18% Increase to Its Quarterly Dividend and a New $535
  Million Share Purchase Authorization

Business Wire

PHOENIX -- September 26, 2013

PetSmart, Inc. (NASDAQ: PETM), the leader in pet specialty retail, announced
the Board of Directors' approval to increase its quarterly dividend by 18%
from $0.165 to $0.195 per share beginning in the third quarter of fiscal 2013.
The dividend of $0.195 will be paid on November 15, 2013 to stockholders of
record at the close of business on November 1, 2013. This is equivalent to an
annual rate of $0.78 per share.

The Board of Directors also authorized a new $535 million share purchase
authorization that expires on January 31, 2015. This new share purchase
authorization will commence on October 1, 2013, and will be in addition to any
unused amount remaining under the June 2012 share purchase authorization as of
that date.

“We believe the stability and predictability of our cash flow demonstrates the
continued strength of our business,” said David Lenhardt, Chief Executive
Officer, “and today’s announcement reaffirms our commitment to returning
excess cash to our shareholders through a combination of dividends and share
repurchases.”

About PetSmart

PetSmart, Inc. (NASDAQ: PETM) is the largest specialty pet retailer of
services and solutions for the lifetime needs of pets. The company employs
approximately 53,000 associates and operates more than 1,301 pet stores in the
United States, Canada and Puerto Rico, over 196 in-store PetSmart^®
PetsHotel^® dog and cat boarding facilities and is a leading online provider
of pet supplies and pet care information (http://www.petsmart.com). PetSmart
provides a broad range of competitively priced pet food and pet products; and
offers dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp^SM
day care services and pet adoption services. Through its in-store pet adoption
partnership with PetSmart Charities^®, PetSmart has helped save the lives of
more than 5 million pets since 1994. PetSmart Charities, Inc.and PetSmart
Charities of Canada, Inc. (“PetSmart Charities”) are independent, nonprofit
organizations that save the lives of homeless pets and reduce shelter intake
through spay/neuter efforts. In 2012, nearly 450,000 dogs and cats found homes
through the organization'sadoption centersin all PetSmart stores
andbysponsoring community adoption events. PetSmart Charitiesis the leader
ingrantingmoneyto help pets in need, with more than $28 million given
in2012throughoutNorth America.

Contact:

PetSmart Investor Relations
623-587-2025
 
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