Margins hold up at PetSmart during Q4

|By:, SA News Editor

PetSmart (PETM) reports comparable store sales grew 1.2% in Q4 led by service sales.

Gross margin rate improved 40 bps to 31.4% during the period.

The company expects net sales growth of 4%-6% in FY14 on comp sales growth of 2%-4%. EPS is expected to land in a range of $4.42-$4.54 vs. $4.45 consensus.

PETM +1.6% premarket