PetSmart (PETM -1.3%) follows the market lower after reporting FQ3 sales of $1.5B (+8% Y/Y) and...

|By:, SA News Editor

PetSmart (PETM -1.3%) follows the market lower after reporting FQ3 sales of $1.5B (+8% Y/Y) and EPS of $0.50, beating consensus by $10M and $0.02. Same-store sales rose 6.1% Y/Y (up from 5% in FQ2), and $70M in shares were repurchased. The company expects FQ4 EPS of $0.85-$0.89 ($0.89 consensus), with same-store sales growth in the low-to-mid single digits. UBS is reiterating a Buy. (transcript)