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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • PetSmart Earnings Rise 12% 0 comments
    Nov 22, 2013 11:17 AM | about stocks: PETM

    Originally published at www.seclive.com

    PetSmart, Inc. (NASDAQ:PETM) announced its financial results for the third fiscal quarter 2013, reporting earnings that rose 12% over last year. Revenue improved 4% to $1.7B, which was in-line with analyst expectations. The company's gross margin improved slightly from 29.6% to 29.8%, while same-store sales improved 2.7%, beating the originally forecast 2.2% to 2.5% range. PetSmart reported solid earnings that grew from $82.3M and $0.75 per share a year ago to $92.2M and $0.88 per share. The company, which offers pet supplies and pet services, saw a marked increase in demand of service sales, which improved 5.2% to $184.2M. Store merchandise sales increased 3.9% to $1.5B. PetSmart tightened its annual guidance, raising the lower end of its guidance by $0.06 to a refined range between $3.94 and $3.98 per share.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: PETM
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