PetSmart Reaffirms Annual Guidance for Full Year 2013
Reaffirms Third Quarter 2013 Earnings Per Share Guidance of $0.83 to $0.87
Reaffirms Third Quarter 2013 Earnings Before Tax Margin Expansion of 30 to 40
Updates Third Quarter 2013 Comparable Store Sales Growth Guidance to 2.2 to
PHOENIX -- October 17, 2013
PetSmart, Inc. (NASDAQ: PETM), the leader in pet specialty retail, today
announced, in connection with its 2013 Analyst Day to be held at 11:00 a.m.
Eastern Time, that it is reaffirming its full year 2013 annual guidance for
the following results:
*Total sales growth in the range of 3 to 4 percent.
*Earnings per share in the range of $3.88 to $3.98.
*Earnings before tax margin expansion of 20 to 40 basis points.
*Comparable store sales growth in the range of 3 to 4 percent.
Third Quarter 2013 Guidance
The Company today also provided an update on its guidance for the third
quarter of 2013. For the third quarter, PetSmart continues to expect the
*Earnings per share in the range of $0.83 to $0.87.
*Earnings before tax margin expansion of 30 to 40 basis points.
For the third quarter of 2013, PetSmart now expects:
*Comparable store sales growth to be in the range of 2.2 to 2.5 percent,
compared with its previous guidance of 3 to 4 percent.
“In light of our 2013 Analyst Day, we wanted to provide an update on our
expected results for the third quarter and full year,” said David Lenhardt,
Chief Executive Officer. “We are pleased to be able to reaffirm our annual
guidance for 2013, along with our third quarter 2013 guidance for most of our
key metrics, including EPS and EBT margin expansion. While we are still in the
quarter, we now expect comparable same store sales growth in the range of 2.2
to 2.5 percent, as a result of a challenged consumer environment and lower
customer traffic. Our reaffirmation of third quarter EPS guidance and all full
year 2013 guidance metrics reflects our solid execution and the strength and
the stability of our business.”
The Company will provide more detailed information about its third quarter
2013 results on Friday, November 22, 2013, when its regularly scheduled
earnings release and conference call will occur.
PetSmart, Inc. (NASDAQ: PETM) is the largest specialty pet retailer of
services and solutions for the lifetime needs of pets and is a leading online
provider of pet supplies and pet care information (http://www.petsmart.com).
The company employs approximately 53,000 associates and operates more than
1,301 pet stores in the United States, Canada and Puerto Rico, and over 196
in-store PetSmart® PetsHotel® dog and cat boarding facilities. PetSmart
provides a broad range of competitively priced pet food and pet products; and
offers dog training, pet grooming, pet boarding, PetSmart Doggie Day CampSM
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 PetSmart Charities’ adoption centers in all PetSmart stores and by
sponsoring community adoption events. PetSmart Charities is the leader in
granting money to help pets in need, with more than $28 million given in 2012
throughout North America.
This news release contains “forward-looking statements” within the meaning of
U.S. federal securities laws. Any statements made in this news release that
are not statements of historical fact, including the statements comprising
regarding our guidance for the third quarter and full year of 2013 and other
statements concerning our expectations for future performance, are
forward-looking statements. These "forward-looking statements" are based on
currently available information, operating plans and projections about future
events and trends. They involve inherent risks and uncertainties that could
cause actual results to differ materially from those predicted in such
forward-looking statements. Such risks and uncertainties include, but are not
limited to: changes in general economic conditions; conditions affecting
customer traffic, transactions and average ticket including, but not limited
to, adverse changes in consumer sentiment, weather conditions or other
seasonal events; our ability to compete effectively; disruption of our supply
chain; our ability to effectively manage our growth and operations; changes in
our cost structure; and changes in the legal or regulatory environment. For
additional information on these and other risk factors that could cause our
actual results to differ from the results predicted in these forward-looking
statements, please see our filings with the Securities and Exchange
Commission, including our most recent annual report on Form 10-K (including
the disclosures under the section entitled “Risk Factors”) and subsequent
reports on Forms 10-Q and 8-K. Investors should not place undue reliance on
such forward-looking statements as they speak only as of the date hereof. We
undertake no obligation to update any forward-looking statements to reflect
new information, subsequent events or circumstances or otherwise, except as
may be required by law.
Investor Relations, 623-587-2025
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